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Q: What are the consequences if a cosigner on a car loan sells the car without the permission of the other cosigner?
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How do you get your name off of an auto loan that you cosigned on if other party cannot get another loan and has nobody willing to take over as cosigner?

A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.


Can a cosigner on a car loan sell the car without approval from the other?

No, both parties would have to be in agreement and sign off to sell or trade the vehicle.


Can you get a loan for a house without a cosigner?

Plenty of homes are sold to individuals without a cosigner. Usually there are only 2 reasons a bank will ask for a co signer. One being, if their prospective client does not have sufficiant funds available to make the estimated mortgage payments and other monthly debt payments and stay under 50% debt to income ratio, two being credit issues.


Do you need your cosigner to sign when you refinance?

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 on your original loan sign anything.


Is the cosigner of a private student loan hindered from getting other loans?

The cosigner of a private student loan can and will be hindered if late payments occur. Another downside to said cosigner, that is if they are in school, just like most everything else they best have the money to cover these loans in some type of colateral.

Related questions

How long does a cosigner need to be on the contract?

untill its paid off * The other option is for the primary borrower to have the loan refinanced without the participation of the original cosigner.


How do you get your name off of an auto loan that you cosigned on if other party cannot get another loan and has nobody willing to take over as cosigner?

A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.


Who hunts animals without permission?

Many people hunt animals without permission, they do it for food, furniture and many other things! Just saying your not suppose to hunt animals without permission, in fact, your not suppose to hunt them at all!


Can a married 16 year old couple move in with the other without parental concent?

Yes, you can legally move in without their permission. They had to give permission for you to get married and that emancipates you.


Can I use my husbands debit card without his permission would he be able to prove that he didn't give me permission?

You cannot use anyone's card without permission. If you were charged criminally for stealing, the burden would be on you to prove that he did give you permission, not the other way around.


Can you take your child to a different state without getting permission?

Permission from the other parent. Yes if you are in leagule custody of the child at the time


Can a parent with joint custody move with child without the other parents permission?

no


How can you obtain a student loan without a cosigner?

You can get a federal loan also known as Stanford loan, as it isn't based on your credit history it doesn't need a cosigner. Private loans also don't need credit history and other stuff.


What if you found out someone falsified your signature on a lease as a cosigner without your permission?

I was applying for a new rental agreement and the place I'm trying to rent from saw a judgment in my name for a lease that I have never lived or signed up to be a cosigner to be on any agreement. I think my sister used my social security info and forged my signature and she backed out of a rental agreement. I've opened an investigation with the rental agency and other property and I'm just wondering what I can do in the meantime to clear my name from this.


Can a spouse take a child out of state of Connecticut without the other parent's permission?

Yes.


Is it legal for a spouse to take out a loan electronically in the other spouse's name without his permission?

no


Can a cosigner on a car loan sell the car without approval from the other?

No, both parties would have to be in agreement and sign off to sell or trade the vehicle.