possible illegal loan agreement? PLEASE HELP!!!!

[acidity357]

I bought a car back in stepmber of 2008, my mom co-signed for me, but when we received paper work from the loan company, she was the #1 signer, and my name was listed as a co-signer. When we receive mail from them, only her name is first then my name? is this correct, is this legal?

[freshstartfl]

From what I understand, there's no difference in liability between a co-signer and a primary signer. You're both on the hook; doesn't matter whose name comes first. Could be something simple and meaningless like, the way they have you listed in their computer systems -- maybe in one section of their computer system they listed you alpha by 1st name, and in the other they listed it as written on the note.. who knows. I doubt it would make it an "illegal" loan.

[rockyroad]

I don't think it matters. When I co-signed on my financee's truck, I was expecting for everything to be in his name with the understanding I would responsible if he did not pay. Everything ended up showing in my name and all correspondence came in my name, however, the loan did appear and report to his credit report. We were told the person with the better credit's name would appear first on the loan. Just make sure the loan is listed on your credit report and you should be fine. You can pay the bill yourself, that doesn't matter, they will just hassle mom if you DON'T pay!