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Can a garnishment on a cosigner be stopped if the signer has a job?
Wiki User
∙ 16y ago
Having the ability to pay (a job) is exactly the reason for the garnishment on the co-signer. The way to stop the garnishment is to pay off the debt. Don't co-sign if you do not understand what you are committing yourself to.
Wiki User
∙ 16y ago
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Can you be a co-signer with no job?
You can, but the more likely scenario is that you will be listed as the primary and the person who can pay will be the cosigner to secure the loan. If you are hoping to secure the loan for another party as their cosigner, it is not likely to happen. Unless you are fabulously wealthy, and can provide evidence of this to the lender, you will not be accepted as a cosigner.
Does a cosigner have to have a job?
No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.
What if the cosigner refuses to sign the auto loan but the down payment is already made?
Hummm --- co-signer NOT a co-signer! -- your options are few - 1) GET ANOTHER CO-SIGNER QUICK, or 2) GET YOUR DOWN PAYMENT BACK QUICKLY or 3) Work w/dealer to arrange payments for your new car! If you've a job - ask (beg) your employer to tell car dealer that your stable in your job and you will not lose your job unless you can't get to work because you got no car! GOOD LUCK, and choose better friends to be your Co-signer next time.
How do you get a car loan without credit or job?
it is very hard to get a car loan unless you show you are bringing in some type of income.. you may have a chance if you have a co signer yeah it's true car loan without credit as well job is very difficult to get, if you have no job then you must need cosigner to get car loan.
When a car in Texas gets repossessed for failure of payment does the car company come after the main signer or the cosigner for paying off the rest of the loan?
Both. But in reality, they go after the money. If the primary is broke, doesn't have a job, homeless, whatever, the bank will go after the person with the money. Now aren't you glad that you co-signed? They'll first try to get the primary signer to pay the debt. If he can't, the company will hold the co-signer liable for it. A co-signer is just as legally liable for the debt as the primary signer. You know when it's a good idea to become a co-signer? Never.
If the co-signer do not have enough credit after being the co-signer half year for a car loan because of the co-singer lose the job What will happen to the co-signer?
AnswerIf you have already been the cosigner on the loan, you will remain so until the loan is refinanced or paid in full. It doesn't matter if the cosigner has lost their job or not. As long as the person is making their payments, the cosigner isn't affected at all.Good luck job hunting cosigner! :)
Can the lender take to me to court if I am just a cosigner for my friend and he could not pay the remainder of his car loan?
Yes. That is the job of a co-signer, to make sure the signer makes the payments or to make the payments if the signer cannot.
Can you be a co-signer with no job?
You can, but the more likely scenario is that you will be listed as the primary and the person who can pay will be the cosigner to secure the loan. If you are hoping to secure the loan for another party as their cosigner, it is not likely to happen. Unless you are fabulously wealthy, and can provide evidence of this to the lender, you will not be accepted as a cosigner.
Does a cosigner have to have a job?
No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.
Can the cosigner of a student loan be removed from the loan after the student finishes college and has a job and the ability to repay on his own?
No, a co-signer is legally and equally obligated until the loan is paid in full or until the loan is refinanced w/o the original co-signer being a party to the action.
What if the cosigner refuses to sign the auto loan but the down payment is already made?
Hummm --- co-signer NOT a co-signer! -- your options are few - 1) GET ANOTHER CO-SIGNER QUICK, or 2) GET YOUR DOWN PAYMENT BACK QUICKLY or 3) Work w/dealer to arrange payments for your new car! If you've a job - ask (beg) your employer to tell car dealer that your stable in your job and you will not lose your job unless you can't get to work because you got no car! GOOD LUCK, and choose better friends to be your Co-signer next time.
Can a cosigner take the car if you lose your job?
When a person co-signs a loan, they take on the obligation of the loan. The co-signer should also be on the title to the vehicle. If not, the co-signer could acquire title by filing a lawsuit against you for not paying and the court could transfer the title to the vehicle by a court order.
How do you get a car loan without credit or job?
it is very hard to get a car loan unless you show you are bringing in some type of income.. you may have a chance if you have a co signer yeah it's true car loan without credit as well job is very difficult to get, if you have no job then you must need cosigner to get car loan.
When a car in Texas gets repossessed for failure of payment does the car company come after the main signer or the cosigner for paying off the rest of the loan?
Both. But in reality, they go after the money. If the primary is broke, doesn't have a job, homeless, whatever, the bank will go after the person with the money. Now aren't you glad that you co-signed? They'll first try to get the primary signer to pay the debt. If he can't, the company will hold the co-signer liable for it. A co-signer is just as legally liable for the debt as the primary signer. You know when it's a good idea to become a co-signer? Never.
If they ganish your wages then you quit your job what can they do then?
NO, wages, NO garnishment.
What happens to a wage garnishment for a student loan if you quit your job?
The collection agency will wait until you get another job and garnish you again. As soon as the IRS knows you have a new job, so will the collection company. You can not avoid wage garnishment, but you can have the garnishment lifted. Default Management Services can help you. Google them.
Does the buyer of a car have to have a job if they have a cosighner and for how long?
if you have a good cosigner then all that matters is their credit and work history... if you renage on the deal they go after the cosigner
