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The obligation of a cosigner is discharged by?
The obligation of a cosigner is discharged by a borrower securing a loan to the satisfaction of the creditor. Paying off a loan will also discharge the obligation of a cosigner.
Does a cosigner have to replay a federal student loan if the student dies?
Federal student loans do not currently have cosigners. Parents who take out federal PLUS loans for their kids often think they are a cosigner, when they are actually the sole borrower. All federal student loans are discharged if the student dies.
What happens to a cosigner of a car loan when the primary loan holder files bankruptcy and the loan is discharged and they do a voluntary repossession?
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.
What is a creditworthy cosigner for a private student loan?
a secured loan
Is the APR of a student loan determined by the credit of the borrower or that of the cosigner?
The cosigner I believe but check with the loan issuers it's in the details.
Can the borrower of a private student loan change the cosigner during the term of a loan or must she refinance to do that?
AnswerThe short answer is no, you can never change cosigner on a private student loan. If they die, however, it is transferred to you.
How can you get a student loan with no cosigner and only 1 year of employment?
It is very possible to get a student loan with no cosigner and only 1 year of employment. The best solution would be to apply for a federal stafford loan.
Who gets garnished for student loan The borrower or the cosigner?
the borrower
Is there a way to get a student loan that is not FAFSA loan and does not require a cosigner?
If you're creditworthy, sure!
How can you get a student loan without a co signer?
You may want to consider a federal student loan as these types do not require a cosigner.
Can you bankrupt on a government student loan?
These are not allowed to be discharged.
Can the cosigner of a student loan be removed from the loan if the student did not use the loan for its intended purpose And the student did not finish college and is not paying the loans?
NO you have s secondary obligation for the note, not the money or how it was or was not used.
