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Can a guarantor get their money back from someone who has defaulted on their loan?
Wiki User
∙ 11y ago
No. All the guarantor does in a transaction is guarantee that the loan will be paid. They don't get any money back. In fact, they are fully responsible for paying the loan if the primary borrower defaults.
No. All the guarantor does in a transaction is guarantee that the loan will be paid. They don't get any money back. In fact, they are fully responsible for paying the loan if the primary borrower defaults.
No. All the guarantor does in a transaction is guarantee that the loan will be paid. They don't get any money back. In fact, they are fully responsible for paying the loan if the primary borrower defaults.
No. All the guarantor does in a transaction is guarantee that the loan will be paid. They don't get any money back. In fact, they are fully responsible for paying the loan if the primary borrower defaults.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoNo. All the guarantor does in a transaction is guarantee that the loan will be paid. They don't get any money back. In fact, they are fully responsible for paying the loan if the primary borrower defaults.
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Can you get arrested for asking for money?
You cant get arrested if you ask someone for your money back you can only get arrested if you threaten them or hurt then for money.
If you cosigned an auto loan for your niece and she has defaulted can you repossess the car from her?
yes you may take the car back considering she defaulted on a aggrement between the 2 of you and the bank you are liable for any unpaid debts on the car therefor the car is yours as well....
What does it mean if someone defaults on a loan?
When someone defaults on a loan, it is when you borrow money from a bank and you say that you are going to pay it back, but you do not, therefore stealing their money. This can wreck your credit score and get you in deep trouble.
Why should the back of a check be endorsed?
so that people cant screw with your money.......they want to make sure that your handling your own money and not stealing someone else's money
Can you send credit from someone to someone else?
No, you can not give credit that you have to someone else. You can loan someone money or your credit card, but you are still responsible for paying the credit card company back.
What is a bank foreclosure?
It when your mortgage to the bank has been defaulted on and they decide to take back your home to compensate for their lost money.
What is the money called that one has to pay back to someone?
When you pay someone back you are usually giving them money back, you are repaying that person.
If you are selling a car to someone and they have an agreement with you and then they stop making payments toward the car do you have to give them all of there money back that they have put towards it?
If you had a written agreement that they would pay you "X" amount of $$ per specified (time period) then they are still liable to make the payments. You should not give them a refund of the money ... they defaulted on a written promise to pay ... they are out the $$ ... you get to keep the car and the money.
How do you get a refund from a money gram money order when you made out to someone and they sent it back to you?
One can get a refund on a money gram money order when it is made out to someone who sent it back by checking the swift number on the money gram order and placing a block on it.
What does it mean to loan money to someone?
To loan money to someone means to give your own money to someone else for a period of time. Then, the receiver will eventually pay the lender back the money (usually with interest).
What is lending of money?
it is when you give someone money, then you have to give back what you have borrowed. does that make sense?
How does bail money work?
Bail money is used to make sure someone shows up to court. If they show up their money is given back. If someone uses a bail bondsman they charge a percentage for covering the bond and they don't get any of the money back.
Can you get arrested for asking for money?
You cant get arrested if you ask someone for your money back you can only get arrested if you threaten them or hurt then for money.
Do you have to give a car back if someone buys it off you and then decise they want there money back?
no they sold it to you its yours
What crimes had been committed by prisoners in the debtors yard?
Most often, they had defaulted on a loan... borrowed money, but were unable/unwilling to pay it back in the agreed upon manner or time period, so they were sent to debtor's prison.
If you gave someone money can you sue them for it back?
No. If I give you money, it is yours. You can do whatever you want with it. If I lend you money, I had better get a receipt. I will need paperwork. Then, I can sue you to get it back. The name of the game is paperwork.
If someone goes to jail and pays back money to you court ordered where can you find the money?
from child support enforcement
