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Co-signing a loan may not specifically require collateral, but if the person for whom you co-sign defaults , anything you own becomes fair game. Don't co-sign for anything for which you cannot comfortably cover the loss in case of default.
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∙ 9y ago
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Can a minor cosign on a loan?
absolutely not. Minors are not able to cosign any loans, only an adult (eighteen years or older) is aloud to cosign a loan. the law states that any minor is not responcible for the repayment of any loan.
Can you cosign a loan if you live out-of-province?
Ca
Can a minor cosign a loan with someone other than his or her legal guardian?
If you are a minor, you cannot LEGALLY cosign or sign any loan/contractual agreement.
Can an 18-year-old cosign a loan?
yes
Can you cosign a car loan in a different state?
nope
Can an employer co-sign for a student loan?
Yes, an employer can cosign for a student loan. Any one can cosign for a student loan if they meet the requirements.
Can a minor cosign on a loan?
absolutely not. Minors are not able to cosign any loans, only an adult (eighteen years or older) is aloud to cosign a loan. the law states that any minor is not responcible for the repayment of any loan.
Can you cosign a loan if you live out-of-province?
Ca
Can a minor cosign a loan with someone other than his or her legal guardian?
If you are a minor, you cannot LEGALLY cosign or sign any loan/contractual agreement.
If you cosign a student loan will you still be eligible for a student loan for yourself?
YES
Can a husband cosign for a car loan for his wife?
Yes
Can you cosign a car loan in a different state?
nope
Can an 18-year-old cosign a loan?
yes
Can my furniture be used as collateral for a loan?
There may be some signature loan companies that will take furniture as collateral. Most loan companies will want other collateral such as titles to vehicles.
Can a financed car be used as collateral for a loan?
Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.
Can someone on social security benefit's cosign for a loan?
Yes, someone on the social security can be able to cosign for a loan. The person cosigning the loan however has to have good credit regardless of his availability on the social security benefit.
What are the disadvantages of a collateral loan?
One disadvantage to a collateral loan is that the property put up as collateral can be taken away if the loan is not paid as promised. The dollar value of the collateral does not matter at the time, but after it is sold, the lender should return any portion above the loan repayment amount.
