The cosigner issue here is misplaced. The liability of a cosigner comes into play if the primary owner of the car cannot make payments. In the case presented, the primary borrower is doing fine. There is nothing a cosigner can do to take a car away.
Yes if his anger is due to your not making payments. Otherwise NO.
A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.
Well if the original person that you co-signed with defaults on the payments and you are stuck with the payments, technically it is your vehicle and you can take the person to court and take control of the vehicle.
Bill, ONLY if the co-signor is listed ON THE TITLE as CO-OWNER. Co-signors only responsibliity is to make the notes if the signor doesnt. Signor is just USING co-signors creditworthiness.
The Cosigned assumes full responsibility of the loan.
Yes, the cosigner is partly responsible for the car. Therefor they can take equal ownership or ask that you refinance in your own name so they are no longer liable if you default on a payment. Remember, missing payments will hurt both of your credit histories so they have a right to protect their reputation. * A cosigner has no legal right to any property unless his or her name is on the title, nor can a cosigner force someone to refinance a loan without taking the person to court and receiving a court order directing the primary borrower to take such action.
The easiest way to get out of a loan is to pay it off. The bank required whatever signatures are presently on the loan in order to guarantee the payments. It won't let a co-signer remove his name. If your friend has been making all the payments himself then perhaps he could refinance the loan in his own name.
You cannot skip a year even if you made double payments for the first year, the bank considers those payments extra and hopefully you made sure the payments went to the principle, not the interest.
Yes if he didn't have anything to pay it off with when he passed away
The child who ran away might have ran do to a feeling of isolation and fear. They have not always escaped to become involved in illegal activities.
The court still has to order the payments, but the court can go back in time, to when the child was born for example, and "start" your payments from back then.
If you do not want your car repossessed, then you need to keep up with the payments on your car. If you are behind on payments, then your car could be taken away from you legally.
The only way you can have your car repossessed would be to not make any payments. If you have taken out a loan and have not made payments, they will take your car away.
you can still tell him even though he is very far away.
If you don't pay your car payments, people go to your house and take it away.
ONLY if you are on the TITLE as co-OWNER. Otherwise you are just on the hook for the payments.
The most common type of repossession notice when a person has not been making loan payments for a car or truck. If the lender does not receive payments, the vehicle may be towed away.
You have to though away your s10
A co-signer is not an owner of the car. As such, the co-signer cannot take the car away from the borrower without the borrower's permission.
Sure--if you would like to retain a discrimination law attorney. If the board decides to file liens against delinquent condo owners, then it must file liens against all delinquent owners, not just some, unless there is a good reason (such as some owners have set up payment plans). Be sure that any offer to pay the delinquent fees without a lien is extended to all delinquent unit owners, and no delinquent unit owner gets a "better deal" than any other delinquent unit owner. Because attorney fees can be collected in lien filings (at least in my home state of WA), and lien filings can cost thousands in legal fees if not done correctly, see a real estate attorney right away.
Ususually in BK a house is either voluntarily surrendered, because it is not possible for the borrower(s) to keep up payments.. Or the buyer reaffirms the loan with the lender and works out a plan to repay missed payments. If your mortgage payments are current, I see no reason why the lender would seek foreclosure.
I was in this situation, but it corrected itself before it got ugly. In my case, I was Jack and called the dealership. I found that as a cosigner making the payments for a couple of months, I had the right to take the car from Jill, though I would have to be careful about going onto her property to take it when she wasn't aware, as she could get me for trespassing. But if I found it in a public place or a neutral parking lot, I was totally within my right to drive away in it. The dealership was going to provide me with my own key for a small cost. Thankfully, it didn't come to this, but it was nice to know that I would have the legal ability to do this without recourse if worse came to worst.
no. there are some a couple hours away though.