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No they cannot add an account if the co signer only agreed to one account.

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โˆ™ 2010-05-26 17:03:54
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Q: Can a person add to a loan if it has a co signer And the co signer agreed to only that one amount?
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Am I responsible to repay a cosigned mortgage upon default?

If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.


What is uncollateralized?

a loan not backed by a co-signer who agrees to cover the amount of the loan a person loan without assets to cover the loan amount a home equity loan a loan tkaen on a life insurance policy


What is uncollateralized loan?

a loan not backed by a co-signer who agrees to cover the amount of the loan a person loan without assets to cover the loan amount a home equity loan a loan tkaen on a life insurance policy


What happens to a personal loan if the borrower dies?

If there was a co-signer on the loan, then the co-signer will be responsible for the balance of the amount still owed. If not, then the lender can sue, or place a lien on the estate of the deceased for the amount owed on the loan.


Will you be able to get approved for a loan for 40000 with a co signer?

That depends on the strength of your co-signer. If you cant but the co-signer can qualify for a loan of that amount on their own....your being there too is only a slight detriment.


Can a co signer sue the person who defaulted on the loan for the amount of the loan in question since the car was reposessed and that person is working and more than capable of making the payments?

Not likely. If you cosign then you are saying "I trust my credit in this person's hands." If the signer does not pay then it is the responsibility of the cosigner to take care of the payments.


Does a person have to start paying their loan when only the co signer signed the contract papers?

If only one person signed the loan agreement then there is no co-signer. That one person would be the borrower and the borrower must pay the loan.


Who is held responsible for the loan on a repossessed vehicle?

The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.


How can you get off a auto-loan as a co-signer?

The loan needs to be re-financed and be assumed solely by the person who originated the loan. The original person will need to have a worthy credit rating in order to escape the need for a co-signer.


I cosigned for a car the person and i agreed she'd be the only driver and now other people are driving the car what are my rights?

As a co-signer, you really are only helping a person get a loan to buy the car. If this person you co-signed for does not pay for this loan, you are responsible to make the payments. What ever deals you made to be co-signer is between you and the other person, unless you have the agreement in writing there is not much you can do but talk to the person.


What if you're a co-signer on a loan and had no idea the loan was in the delinq.?

go to the person/company who holds the loan and get your name withdrawn from the loan


Can a bank automatically take a payment out of a co signers acct if loan is late?

Yes, if that is what they agreed to when they co-signed the loan. Remember, when you co-sign a loan you are fully responsible for paying it if the primary borrower fails to pay. The co-signer should review all the documents they signed when the loan was granted.Yes, if that is what they agreed to when they co-signed the loan. Remember, when you co-sign a loan you are fully responsible for paying it if the primary borrower fails to pay. The co-signer should review all the documents they signed when the loan was granted.Yes, if that is what they agreed to when they co-signed the loan. Remember, when you co-sign a loan you are fully responsible for paying it if the primary borrower fails to pay. The co-signer should review all the documents they signed when the loan was granted.Yes, if that is what they agreed to when they co-signed the loan. Remember, when you co-sign a loan you are fully responsible for paying it if the primary borrower fails to pay. The co-signer should review all the documents they signed when the loan was granted.

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