Loans
Co-signing
Money Management

Does cosigner have to pay back loan if original signer dies?

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2011-08-06 04:58:38
2011-08-06 04:58:38

Yes. That's the reason the lender required a co-signer. They are responsible for paying the loan if the primary borrower does not.

Yes. That's the reason the lender required a co-signer. They are responsible for paying the loan if the primary borrower does not.

Yes. That's the reason the lender required a co-signer. They are responsible for paying the loan if the primary borrower does not.

Yes. That's the reason the lender required a co-signer. They are responsible for paying the loan if the primary borrower does not.

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2011-08-06 04:58:38

Yes. That's the reason the lender required a co-signer. They are responsible for paying the loan if the primary borrower does not.

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Related Questions


Not as long as you make your payments on time. A co-signer guarantees that you will pay your loan off. If your co-signer dies and you don't make your payments the lender will repossess the car and go after you for any deficiencies.


No. Your co-signer promised to pay if you didn't pay. You must repay the loans.


The co-signer will be required to pay off the debt. That's what they agreed to when they co-signed so that the primary could get the account.


If the co-signer dies the surviving borrower is responsible for paying the loan.


Yes. The co-signer should negotiate a resolution as soon as possible. If the debt goes into default the co-signer's credit will be ruined. The co-signer should try to get the lender to take back the vehicle and negotiate the amount it will take to write off the debt. On the other hand, the co-signer could try to get title from the decedent's estate and then pay off the loan.



If the person the co signer was signing for died they would not be liable for the remaining amount due. Also the other way around if the cosigner dies then the car would be paid for after death, but there would probably be two different plans for that.


Generally, no. The co-signer would become solely responsible for paying the loan.Generally, no. The co-signer would become solely responsible for paying the loan.Generally, no. The co-signer would become solely responsible for paying the loan.Generally, no. The co-signer would become solely responsible for paying the loan.



The lender will go after the co-signer for payment.The lender will go after the co-signer for payment.The lender will go after the co-signer for payment.The lender will go after the co-signer for payment.


Probably not - especially if you've been living there long enough to have established your own credit history with your landlord. Of course, if it was your co-signer who had been paying most of your rent, and you are unable to do so on your own, then there is a good possibility that unless you get another co-signer that they may evict you as a bad payment risk.


If a co signer of a car dies, the other person on the contract is still responsible for payment. The person who is deceased is no longer responsible for repayment.?æ



I'm pretty sure the cosigner doesn't have to pay it. If the tenant dies suddenly, I wouldn't think his/her family would be obligated to pay the rent, because I'm sure they would move everything out when the tenant dies.


My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.


Yes Answer: What do you mean by co-signer? Was the co-signer a (A) grantee in the deed or was the co-signer a (B) volunteer who helped to pay the mortgage in lieu of rent?


your left with the full bill as there is nobody else to charge


In most cases the co-signer is in fact the borrower. I would think as long as you make the payments on time the lender will be o.k. with it, they usually want the money not the collateral back. I would read the finance contract(yes all the small print) there should be something stipulating the conditions for "due on demand". Hope thishelps.


Yes, that is the whole point of co-signing. Someone has to cover the debt. If one person dies, defaults or goes bankrupt then the co-signer is responsible. In death the estate is still responsible for the debt. If there is nothing left then the co-signer has to cover it.




Federal student loans do not currently have cosigners. Parents who take out federal PLUS loans for their kids often think they are a cosigner, when they are actually the sole borrower. All federal student loans are discharged if the student dies.


Nothing - the other signatory is still responsible for whatever it is that was agreed to.


The short answer is, nothing good. As a co-signer, you are still responsible for making sure the mortgage payments are made in full on time. However, you should talk to the bank that holds the mortgage to see what you need to do, particularly if the title of the house doesn't come to you through the will or settling of the estate.


Co-signing gives no rights of inheritance unless that is agreed to in writing at the time of the co-signing.It should be noted that if the primary borrower dies and their estate cannot pay the debt, the co-signer will be responsible for payment of property they do not own.Co-signing gives no rights of inheritance unless that is agreed to in writing at the time of the co-signing.It should be noted that if the primary borrower dies and their estate cannot pay the debt, the co-signer will be responsible for payment of property they do not own.Co-signing gives no rights of inheritance unless that is agreed to in writing at the time of the co-signing.It should be noted that if the primary borrower dies and their estate cannot pay the debt, the co-signer will be responsible for payment of property they do not own.Co-signing gives no rights of inheritance unless that is agreed to in writing at the time of the co-signing.It should be noted that if the primary borrower dies and their estate cannot pay the debt, the co-signer will be responsible for payment of property they do not own.



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