Promising to pay someone else's debt if that person does not make good on their obligations. Auto loans and mortgages often require a co-signer.
The short answer is yes. The long answer is that when you co-sign aloan for another person, you agree to be responsible for that loanshould they default so if they fail to pay the loan back, thecreditor will expect you to shoulder the responsibility. If youfail to pay the loan back, it goes on your...
It depends on the amount of their income- whether they can affordto pay both loans. A co-signer will be required to pay if theprimary borrower defaults on the loan.
The deed supersedes the loan.
Sure, hopefully you have a signed promissory note as evidence of the loan. If not, its your word against the defendant.
If the title is in your name only, then the new buyer will not be able to put the title in his name. If it was repossessed, then the lienholder was able to sell it and the sale is valid.
A co-buyer can move out of state with car as long as car paymentsare current. The co-buyer should update the new address with thelender.
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\nIt will not improve as much as it would with no cosignor but some..
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A "bad credit rating" would not be impacted by an account being co-signed, or paid off. Your credit is affected by having an inquiry to open the loan, having a new loan granted, making payments on time (or...
They will look at both but the good news is you will get a better rate if her credit is good than you would have if you'd signed on your own.
More than likely, however you will still end up owing a balance on the car and the primary signer and co signer will still be responsible for the balance.
Not for a new loan. Your name as co-signer for a loan can only be applied if you signed the original loan document as co-signer. Now, 11 years later if the person you co-signed for the first time tries to open another loan using you as co-signer they will have to get you to sign a loan document...
if there is a mix up then yes
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\nIF your credit is good enough to qualify for the loan, you and the other person will meet with the LENDER and do the paperwork. Not much different from getting your own loan. Main advantage is you may "know" the condition of the car better and possibly get a better price duw to someones...
The usual legal recourse for the cosigner when the person named asthe primary on a loan has defaulted, is to make the payments on theloan. Then, the cosigner can take the person who defaulted to courtto try and recoup some of the money they are out. If the loan wasfor a car, some states allow the...
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\nYes, a co-signed account is the same as a joint account. Terms are the same for both users.
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The only way to legally escape the lease agreement without payingany penalties is if the roommate is committing illegal harassmentagainst you that results in a police report and restraining order.Otherwise, if it's just roommates being loud, messy, or borrowingyour clothes all the time while never...
Without a credit history and a co-signer, you may find it very difficult (really impossible in this environment) to get a traditional loan. I would recommend, if at all possible, to borrow money from friends and/or family if the loan you need is not large since the following options are not ones...
If they co-signed a lease they should check the property regularly and also make certain the rent is being paid on time. A co-signer on a lease is responsible for paying the rent if the primary lessee doesn't and is also responsible for paying any damages that go beyond the security deposit.
Do you mean moving to another apartment owned by the same landlord? If so, then I suppose that the parties have agreed to leave the terms of the lease the same, and just transfer the lease to a different unit. Nothing wrong with that, but it might be a better idea to sign a new lease.
Husband moved to flordia establishing resadency, takes 189 days. I beleive that he will file for divorce. I live in nj, are the laws different in Fl, as to the division of monies?
Unfortunately, no. When someone is cosigning something, they must be present. The reason being that they have to be there in person to sign the papers personally.
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\nVERY much so, not to mention your relationship with the co-signor.
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\nSure. Just find an apartment that will allow a tenant with a discharged bankruptcy.
Is someone who co-signs on a loan up a creek if the primary borrower no longer will keep in contact?
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\nYES !!!!!!, You will be the next person they come looking for.
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See, it has to be a ratio of your total monthly income and your total monthly debt payments. First of all, you should add your monthly income. On the other hand, you have to add your monthly bills e.g. rent, car loan, phone etc. Your total credit card outstanding balance has to be divided by 12...
You really should do your homework yourself. What would your teacher think about cheating like this? And, nobody writes leases like that.
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\nYou either pay or dont pay or file B/K also..
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If a co-borrower has debt discharged through bankruptcy, the other signatory is 100% liable for the balance of the loan.
well it depends how you want to do it. You could always try this....( I don't ) This is from http://whatismyipaddress.com/ .
Below is something to try :( Here is what I use.....---
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\nUnlikely, but contact a local attorney for state/case specific advice..
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\nWhose name or names were on the title to the car?
Tell them the truth and say your sorry, dont just go up to them and say "OI, get outa my 'ouse" Tell them the truth and if ur the owner then you have the riight to choose who stays in your house:).
if you hide the car and they can't find it, they want do any thing but look for the car consistance for about 60 days and stop for about six months, and start looking for the car again ...in about after nine months most car company stop looking for the car...and will but this on your credit report.....
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No. A joint owner has every right to the vehicle, just as much as you do. That includes knowing where it is, and having access to and usage of it.
If you are a cosigner on a Federal Student loan, then the only way to get your name off the debt is to get the primary borrower to consolidate the student loan in only his/her name. This will remove you from the debt. If it's not a student loan, you are stuck. You can file a civil suit regardless,...
I think that you should show her that u love her cause actions speak louder then words but then again a lot of girls don't pay enough attention so u might wanna just tell her. But basically show and tell her. ----------------------------------------------------------------------------------------...
In the United States, it is possible for anyone to file a lawsuit for almost any reason so long as they pay the filing fee. Once the replies to the lawsuits are filed, judges throw out a bunch. Many retail establishments have lawsuits filed against them constantly. The retailers' lawyers claim they...
Hi, I was just having the same discussion the other day. On a serious note though, in most cases your answer is yes...but only after a certain amount of time. then there are those other times that there are certain instances in which the car can not be retitled (and those vary from vehicle to...
If you default on your loan, the cosigner is stuck with paying it off. If your credit had been any good in the first place, you would not have needed a cosigner.
Yes. A person can co-sign on 2 different cars.
In the USA, if the student loan is Federal like a Stafford or Perkins loan, then yes you can cosign with bad credit. If the student loan is a private student loan, then no, you must have good credit. Keep in mind, you should never take out private student loans out until you have used up Federal...
Yes you can be a cosigner if your credit is approved by the lender.Also, you should be certain you can afford to make the car paymentsin case the primary borrower fails to pay. You will be held equallyresponsible for paying the loan. In most cases where someone needsa co-signer, their credit is not...
How it is looked at by the loan companies is Income minus Expenses, if your annual income is only 10k but your rent (or mortgage) is only 5k a year, they see it as you have 5k a year to pay your loan with. however if you make 40k a year, but pay a 35k a year mortgage, you still only have 5k a year...
If you need a cosigner they must sign because a co-signer is a person who accepts responsibility for repayment of a loan, credit card or other debt along with the original borrower. However, if the institution giving you the new loan doesn't require a cosigner, you don't need to have the cosigner...
Yes. The co-signer is responsible for any unpaid rent or damages that are not paid by the primary.
Sorry to say, but there would not be any point to file such a lawsuit, since it would not be enforceable, however your not the first to want to file one. It is one of the most common fights in a divorce situation, ex runs up all the cards and the co-signing spouse does not feel its fair to pay...
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That would be something you would have to settle in a small claims court.
A co-signer is EQUALLY responsbile for the debt as the person he co-signed for. At the very least it will reflect on their credit. Possibly liens can be placed against them. In extreme cases, garnisheeing of wages and forced sale of their property though the last is unlikely.
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\nhttp://www.lawhelp.org/documents/127641Creditors%20and%20Debtors.pdf?stateabbrev=/FL/
Yes, there is no limit to number of Apartments you can rent/cosign on. However, the new landlord may run a credit check/background check on you, if you have too much debt or cosigned on another apartment they may consider you to be roo risky to rent to.
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\nThe LENDER will have to remove any co-signor from the loan..
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Your only option is to have your daughter refinance the loan in her name only. She might be able to do this, given enough positive credit history on the existing loan and proof that it was her making the payments...
The primary is the one responsible for paying the loan. If they default (stop making payments) the co-sihner will be responsible for paying the balance or both their credit records will be ruined. If the co-signer's name is not on the title they will not own the property even if they paid for it....
Yes. At any point that you are in arrears, the bank can choose to get a court's permission to repo. After that point, you must negotiate with the bank as to how much to pay to get the vehicle back. The bank retains the choice to simply sell the car, and sue you for the difference if you owe more...
Yes. That's the purpose of a co-signer, to guarantee the conditions of the contract in the event of default by the other signer.
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I'm afraid this might not be enough information to answer the question. For instance, if this were a refinance mortgage, you might be able to rescind. You should call the title/escrow company right away if this is a mortgage.
Depends on where you live. Call or visit your local department of motor vehicles or visit their website for a list of fees.
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Each person who co-signs a mortgage is equally responsible for paying the mortgage. If your mother has died then her estate must be probated. The debts of the decedent must be paid before any property can be distributed to the heirs. You need to consult with an attorney who specializes in probate...
when any time she sees him she blushes and she starts to have daydreams about him and her dreams become optimistic like me when i liked a boy And they are attacking him some what become annoying and like touching the boy
Yes. Whether or not you get results will be dependent on a number of things, but it would appear that you have a good case there (although one can't be 100% certain without knowing the details).
There is an employment/check fraud scam by a company claiming to be BG Furniture located in the U.K., where they are supposedly offering an employment position receiving checks for furniture from their U.S. customers, depositing the checks into your own bank account, and then mailing a money order...
Typically, yes. When a person co-signs a loan they are EQUALLY responsible for the debt. When one party files for bankruptcy they are not going to be responsible for payment unless it falls within a category of non dischargeable debts (in which case they would) but you should let them know of the...
Unfortunately yes, and not paying the debt will result in tremendous negative consequences for you. Below are a list of some problems specifically associated with co-signing a loan that becomes subject to a bankruptcy proceeding. * If the primary borrower does not pay his debt, you will have to. In...
The cosigner would need to agree. At the very least, consider what you are doing before you even ask. If you needed a co-signer for the first thing, your finances are in disarray. You should be able to refinance the first loan in your name only and then and only then consider adding to your debts...
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No but a requirement of the job may be that you have reliable transportation, that may mean a vehicle of your own or just taking the bus, but if you are repeatedly late for work or request special treatment or hours for transportation reasons you may be denied work or fired. If a vehicle...
What you are describing, if I am understanding correctly, is another party acquired your personal information and used it to obtain a loan. If that is the case and you did not sign the loan documents and you have not given the other party power of attorney to act on your behalf, then this would be...
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I would tell my partner that this person is the past. I am with you now and not comfortable at all with any ongoing communication. If your partner has any respect for you they will sever all communication.
Alot of car/loan companies will work with you if you can show them proof you were incarcerated.
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Heck no you are dreaming minimum credit score is mid 600's that is MINIMUM my score is 550 and even w/ a co-signer who has a score close to mine IS NOT POSSIBLE. On the other hand if the co-signer has a score of 630+ and has good income 50k+ sure you can get a loan it all depends on co-signer really...
It depends on the state in which you reside. Most of the time, if the personal property is permanently affixed to the vechile (stereos, tires, etc), you have no rightful claim to them. Items that are loose in the vehicle such as cell phones, books, CDs, etc, have to be returned to you at no cost.
The Kayapo's houses are made from natural materials, i don't quite know what materials but they are definitely things like wood etc.
Under the big clock
No. If you cosign on a car loan and the person defaults, the finance company can not take your house in this state. After the finance company seizes the car, both you and the other person would still owe the unpaid balance of the loan.
What will happen depends on the decision of the bankruptcy judge. If you are making the payments but the loan is in someone else's name, you do not have a legal leg to stand on. Still, the bankruptcy law in the United States, recognizes the need for an automobile. So, that person may keep the car.
From what I know, when you co-sign on a house or anything for the matter, you are holding not in a sense owning it, but you are holding liability for it. For example, if the owner of the house does not have a good credit score, they need someone who does so that they can get a loan and that person...
If that's what people will buy, that's what should be made. Capitalism at its best. Well if there were an argument for the car makers to NOT make fuel efficient cars it would be to produce cars at a much lower cost. The electronics and engines that have to be used in cars today are extremely...
If two people own property and apply for a mortgage they must each sign and they would be called co-signers or co-borrowers. If you are the sole owner you are not called a co-signer. In that case you are simply the mortgagor.
Yes. And if he does he will become equally responsible for paying the mortgage if the primary mortgagor defaults on their mortgage payments. The bank will go after him for 100% of the debt.
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\nNot always, it depends on the laws of the state and the lender. Some lenders will consider an eighteen year old ,if they are credit worthy. Meaning they have a good credit history and a verifiable, acceptable income level.
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If the lender requires it. They don't always, but it is sometimes preferred.
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Until the end of the grace period as spelled out in the contract you signed. After that, they can reposes the car. Talk to your lender if you are having problems.
Maintaining a good cedit rating
Make your payments on time. .
If you can't pay, contact the creditor immediately, before the payment due date. Your call demonstrates your good faith. Most creditors are willing to make alternative arrangements if your situation has changed. .
Don't wait until the due date has passed or until the...
Sure. Just remember that anyone who co-signs a lease is responsible for paying until the end of the lease if the primary doesn't pay or moves out early.
A cosigner is only responsible for the items that he has cosigned for.
If you purchase this property, you will assume the position of landlord under the existing lease with the tenant. Your rights and responsibilities are determined by the lease and your state's landlord-tenant laws. It is a good idea to talk with a real estate attorney in your area before purchasing...
It is totally up to you who you share your credit report info with, but it is against the law for a creditor or credit reporting agency to disclose any information regarding your file, only you have the authority to access your credit file and unless there is a permissible purpose as defined by law...
To determine your credit worthiness and history.