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What would happen if you can't pay your car payments and the car is under a co-signers name also and you want to drop the loan?
The co-signor would be responsible for paying the loan. Do you hate the co-signor that much?
Who is responsible for car finance after death?
The estate has to resolve all debts. If there are co-signers to the car loan, they may be held accountable. If there are not enough assets to pay off the loan, the car will have to be sold.
What do you need to receive a government loan?
In order to receive a government loan, you may need a credit check or background check. Co-signers may also be required if you are under 25. These co-signers will be responsible for the loan if you cannot pay it off.
Are co-borrowers and co-signers the same?
It is my understanding that a co-borrower is a person who will also avail of the loan and shares the responsibility of repaying it, while a co-signer guarantees that the borrower(s) will repay the loan, and will be resonsible for it if the borrower does not repay it.
What can you do if a car dealership approving a car loan only to require a cosigner or return the car?
There is not much you can do. You could try to get a loan through a credit union or loan company, but the dealership can do this if your loan requirements were not met when you bought the car. Since you need a cosigner my guess is your credit is not good or you don't have enough. Your options are get a independent loan, get a cosigner, or return the car. *********************************************************** There's not much you can do except pay it off. If the lender does not feel comfortable that you, the borrower, can service the debt; then he is within his rights to require a co-signer for the loan. If you default, then it falls upon the co-signer to pay the debt off. Co-signers are notorious for getting burnt on deals like this.
If My wife and I are co-signers on a car loan and We can't pay for it and I am disabled but My wife works will She be liable?
Your wife is responsible for the repayment of the loan. The reason lenders require co-signers is to increase the probability that the loan will be paid. Co-signers are equally responsible for repayment.
What would happen if you can't pay your car payments and the car is under a co-signers name also and you want to drop the loan?
The co-signor would be responsible for paying the loan. Do you hate the co-signor that much?
Are spouses responsible for a deceased husbands bank loan with several co-signers?
Are spouses responsible for a deceased husbands commercial bank loan with several co-signers?
Who is responsible for car finance after death?
The estate has to resolve all debts. If there are co-signers to the car loan, they may be held accountable. If there are not enough assets to pay off the loan, the car will have to be sold.
If you have a co-signer is the rate on your loan based on your credit rating or the co-signers?
YOURS.
How can one get car loans with no credit?
One can get a car loan even if they do not have credit. In some cases, one would require a co-signer on the loan to ensure the payments will be made. Many banks offer loans with co-signers to persons with no credit.
What do you need to receive a government loan?
In order to receive a government loan, you may need a credit check or background check. Co-signers may also be required if you are under 25. These co-signers will be responsible for the loan if you cannot pay it off.
Can you be sued if you co sign a car loan for your son and he gets into a car accident?
You can only be sued if your name is on the title as well. Financial institutions require a co- signers name on the title. But if it slipped by and your not on the title, you can't be sued.
Can you be sued if you co-sign a car loan for your son and he gets into a car accident?
You can only be sued if your name is on the title as well. Financial institutions require a co- signers name on the title. But if it slipped by and your not on the title, you can't be sued.
How do co-signers on car loans get off the loans when the other signer dies?
The only way you will get off the loan is to pay it off. If the other owner died, then you are now solely responsible for the loan.
If you signed for a car loan for a friend does all theyre bad credit come on the co signers credit report?
No, but if she defaults on the loan then you will have to pay the amount due or suffer the consequences on your credit report.
Who pays the car loan after death?
The executor is required to resolve all loans and debts. If there are co-signers on the loan, they may be held accountable. If there are not enough assets to pay off the debts, they are not resolved.
