No, by signing the contract as a co-signer you automatically accept the responsibility if the signer is not paying you will be financially responsible for the loan. There is no legal action you can take against the signer. For more information you can visit http://www.autocreditfinancial.ca IN some states you can recover your lose through small clames court you will have to check the law in your state.You can do this by looking on the net by pulling up your states general statue laws.
yes after 1 day ur done
The best way to receive a good interest rate on your loan is to either have a good credit score or have someone cosign with a good credit score. You can usually receive the best rates with banks or credit unions that you have been a member of for a prolonged period of time.
There are many tips to improve credit. One can repair credit by reviewing credit reports for accuracy, paying down credit cards, using a budget, and paying off small to big debts.
no.my father cosigned for me,but the bank told me that anybody could cosign..good luck to you.
Yes, it goes onto your credit report that you cosigned a loan because you could become responsible for the loan if she defaults. So, that amount of money does show up on your credit and could affect your credit worthiness .
Co-signing a note means you will be legally liable if that person can not pay.
It is possible that you could cosign an auto loan after you filed bankruptcy. It is not likely though. It would depend on a number of factors, not the least of which is your current credit number.
Someone with bad credit could open a merchant account with their bank, provided that their bank offers merchant accounts. Additionally, someone with bad credit could open a merchant account overseas, as overseas merchant processors don't typically pull credit reports.
There are a few ways that someone with bad credit can obtain finance, The first is to use a home equity line of credit and you could also apply to credit unions or receive a peer to peer loan.
how many yrs could someone face in jail for fraud a credit card that someone only spent 200 dollars
The credit score could indicate that the person is responsible in their financial dealings. Unfortunately the salary amount would not be favorable. Many lenders will, however, look at the overall financial picture of the cosigner; for example the person's debt to income ratio, potential for increased future income, etc.
Try it out.... buy a sports car.... and a llama