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Can they? Yes. You can take someone to court for anything. Collecting is something else. Unless you had an agreement in writing stating that you would be reimbursed, I doubt you would win. Find out what car dealers don't want you to know at dealertricks
Yes. But for now the lender has you and will get their money from you as they would the primary borrower. Cosigning is a really, really bad idea. At least for the cosigner. Everyone else seems to benefit.
The cosigner of a private student loan can and will be hindered if late payments occur. Another downside to said cosigner, that is if they are in school, just like most everything else they best have the money to cover these loans in some type of colateral.
YES, THIS IS TRUE! IF YOU HAVE NEVER ESTABLISHED CREDIT HISTORY AND YOU ARE IN NEED OF A LOAN YOUR BEST BET IS TO BECOME A CO-SIGNER ON SOMEONE ELSE'S CREDIT CARDS TO ESTABLISH CREDIT HISTORY.
My sympathies to you and your family. If you, your husband or anyone else in the family didn't cosign for a loan for the car then the debt ends. If there was a cosigner then the cosigner is responsible for the debt. If your son was not a minor and took the loan out himself and he has left a Will or has anything of value this debt will be paid off or written off.
In general, living with someone may affect your eligibility for a widow's pension, as it could be considered as cohabitation or a change in your financial circumstances. The rules regarding widow's pensions can vary by location and the specific terms of the pension plan. It is advisable to review the terms of your widow's pension and consult with a financial advisor or legal professional for personalized guidance.
According to the law, a cosigner signs for someone else that they think might not pay off the load. The cosigner signs a contract agreeing to pay the loan off if the other person does not. He can be solely responsible becase he signs a contract promising to do so.
Yes, it will still help your credit.
From my experience, you would have to re-finance the suto loan with the new co-signer.
Many people cosign a loan for property they don't own. Many are uninformed of the consequences of cosigning. They don't realize they are agreeing to be completely responsible for a loan for property that belongs to someone else. If the primary borrower defaults on the loan and the cosigner must make the payments, the cosigner has no automatic right to the property.
Can they? Yes. You can take someone to court for anything. Collecting is something else. Unless you had an agreement in writing stating that you would be reimbursed, I doubt you would win. Find out what car dealers don't want you to know at dealertricks
If you signed someone else's name on a legal document then the crime is forgery. If it is your first offence you may not go to prison if you are lucky.
Yes. But for now the lender has you and will get their money from you as they would the primary borrower. Cosigning is a really, really bad idea. At least for the cosigner. Everyone else seems to benefit.
Short answer, no. They do get a pension, but it is not equal to what they get paid while they are in office. Keep in mind, if the government did not pay them, someone else would. You can find all the details below.
I think you could only do something like that as a cosigner, because the loan originator will put a lien on the title that will have to be settled before the car can be sold or transferred.
The cosigner of a private student loan can and will be hindered if late payments occur. Another downside to said cosigner, that is if they are in school, just like most everything else they best have the money to cover these loans in some type of colateral.
It would depend on the agency's established collection procedures. Usually the cosigner is notified after all attempts to collect from the original debtor have failed. The CA will then attempt to collect the debt from the cosigner before deciding whether to inititate legal action.