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Borrower is a person who borrow something. It is a common defination.
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∙ 15y ago
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Are a primary borrower and a secondary borrower on a car loan equally responsible for the loan?
Yes, the cosigner/co-borrower has the same legal responsibility to repay the debt/loan as does the primary borrower. If the primary defaults the creditor can attempt to collect from the co-borrower before the primary borrower.
Who gets garnished for student loan The borrower or the cosigner?
the borrower
What happens when a borrower pays of a pawnshop loan?
A personal item is returned to the borrower
Is there a difference between co-borrower and co-signer?
Investopedia Says:A co-borrower is different that a cosigner in that a cosigner takes responsibility for the debt should the borrower default, but does not have ownership in the property
Does a primary borrower have to put up with a cosigner constantly harassing them?
If the borrower isn't living up to their obligations, and affecting the co-signer's credit rating, they have every right to ride the borrower about it. The borrower convinced them that they were worthy of the co-signer's trust. they need to live up to that obligation.
Can a mortgage borrower apply for court foreclosure?
No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.
Are a primary borrower and a secondary borrower on a car loan equally responsible for the loan?
Yes, the cosigner/co-borrower has the same legal responsibility to repay the debt/loan as does the primary borrower. If the primary defaults the creditor can attempt to collect from the co-borrower before the primary borrower.
Who gets garnished for student loan The borrower or the cosigner?
the borrower
Can a co borrower sell car without borrower consent?
no
Who is held responsible for the loan on a repossessed vehicle?
The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.
What is ordinary time in simple interest?
Any time that the borrower and lender agree to.Any time that the borrower and lender agree to.Any time that the borrower and lender agree to.Any time that the borrower and lender agree to.
What is the borrower failed to pay is co borrower liable for it?
Yes. Completely.
When was The Borrower created?
The Borrowers was created in 1952.
What happens when a borrower pays of a pawnshop loan?
A personal item is returned to the borrower
If lender mistakenly signs over auto title to borrower and borrower sales title who is libel?
A borrower should not have a title in their possession that they have borrowed money against. This belongs with the lender. Should the borrower sell the car, they would be libel.
If there is a primary borrower and co-borrower on an auto loan do both get credit reported?
Yes.
What are your rights if you are a primary borrower of a vehicle and the seconday borrower is not paying the loan?
If the secondary borrower is not paying the loan, you must take the vehicle back from the secondary borrower before the bank takes back the vehicle and ruins your credit. You will learn from that not to cosign a loan.
