Here is the problem...this is happening to a friend of mine. (Thanks again creditnet for helping me solve my credit problems.) He bought a car on his dad's credit. He couldn't keep the payments and defaulted on the loan and the car was repoed/he turned it in (not sure). This was two years ago. A creditor called his dad and said that he owed x amount of money on the car minus what the car sold for parts equals $9,000 he still owes them. He said that they said he (the dad) owns a car right now and that if he doesn't pay them the settlement (4000) then they will put a lien for 9000 on his current car. The debt is two years old, so we are still not at the SOL in TX. I don't know exactly how a lien works, but I want to know if you all have any advice to give my friend? (other than he shouldn't use his dad for credit, but I'm sure his dad learned that). Note: right now the credit report is a secondary concern, the concern is if he should pay 4000 now (getting would be almost impossible, but more possible than getting 9000) or risk ending up having to pay 9000. Plus, can you ask for a cease and desist letter if you don't say in there "you don't intend to pay them", you just don't want them calling?
