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If I cosigned a promissory note to a bail bondsman can I be held liable for the whole amount if not re payed?
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Is the person who cosigned for a rental agreement liable after 2 years?
The signers on a lease are liable for charges during the term of the lease.
If your car is repossessed and the person who cosigned for you files bankruptcy are you still liable for the repossession?
Yes. If you default on your car loan you will remain liable for the debt.
In Wisconsin are persons cosigned on a loan as grantors liable to pay if the primary signer dies?
Yes.
Your recently deceased husband cosigned a home equity loan for your son Are you liable for the loan?
No just return the moneies
If the cosigner files bankruptcy and claims the debt of the cosigned loan is the cosigner relieved of the cosigned debt?
Unfortunately, no. For all co-signed debts, both signers are liable for repayment of the debt. When one party has their obligation discharged by bankruptcy, the remaining debtor becomes 100% liable for repayment of the balance.
If a borrower dies with a promissory note are heirs responsible for payment?
They are not personally liable, except in the sense that the assets in the estate must be used to pay the promissory note. Thus there will that much less in the estate for them to inherit. If there are insufficient asset to pay the debt, then the holder of the note loses out on the amount that cannot be paid out of the estate.
Is a surviving spouse liable for payment of debt on a loan cosigned only by the deceased spouse in Kentucky?
No, Kentucky is not a community property state.
If you cosigned on a car loan and car was repossessed 5 yrs ago and now the creditors are harassing you but you don't work and have no way of paying can your husband be held liable if he did not sign?
The spouse cannot be held liable, however it is quite possible that the debt is no longer valid for collection. The person who cosigned the loan should find out what the SOL is in the state in which the contract was signed.
I cosigned on an automobile loan and insurance for my son. Who is responsible if the insurance is not paid up and he gets in an accident?
As a cosigner, You are jointly and separately liable for any and all amounts that might arise out of the finance note you guaranteed.
How does a bail bondsman earn money?
In much the same way as an insurance company earns money. A bail bond is basically an insurance contract paid for by an arrested person to get out of jail before trial. The person pays a premium for the bond based on the amount of the bond. If the person shows up for trial, the bondsman keeps the premium. But, if the person skips town the bondsman will have to forfeit the entire amount of the bond to the state of federal government. It works like life insurance only instead of the insurer/bondsman paying the face amount of the policy on the death of the insured, the bondsman pays it on the faiure of the person to show for trial.
What amount of erroneous payments are the certifying officer automatically liable for?
The full dollar amount
What happens if a loan is in default and the co-signer who put up the collateral is deceased?
The person who was "cosigned for" is still liable and the collateral is still collateral, it's just owned by the estate now. Same laws still apply
