They should since they are just as responsible for making payments as the primary.
In some states yes.
No. There is no legal obligation for the lender to notify the cosigner that the primary borrower is in default.
No, but if the borrower misses enough payments, the cosigner will start getting collection calls as well.
No, the cosigner may be the first one the lender attempts to collect from if the primary borrower defaults. That will probably be the only "warning" one receives.
The cosigner was probably "notified" that any funds held by the lender would be attached at the time the loan was signed. In order to garnish wages or place a lien on other property, the lender would have to go to court and obtain a judgment, in which case the cosigner would have received a summons from the court.
yes because they have to notify the owner
In some states yes.
No. There is no legal obligation for the lender to notify the cosigner that the primary borrower is in default.
No, but if the borrower misses enough payments, the cosigner will start getting collection calls as well.
No, the cosigner may be the first one the lender attempts to collect from if the primary borrower defaults. That will probably be the only "warning" one receives.
The cosigner was probably "notified" that any funds held by the lender would be attached at the time the loan was signed. In order to garnish wages or place a lien on other property, the lender would have to go to court and obtain a judgment, in which case the cosigner would have received a summons from the court.
Contact the lender and let them knoiw that if ANY case the debtor defaults to notify you so you can payoff the loan. Add that you will payoff after repo with NO repo reported on YOUR credit.
I have NO IDEA, WHY look here if there is NO ANSERS
None
Notify the LENDER by cert mail that they have 10 days to remove the car or you will have it towed by a wrecker company. IF they dont p/u the car, call a wrecker co. to come get it.
Yes. The lender must notify the borrower of the pending foreclosure.Yes. The lender must notify the borrower of the pending foreclosure.Yes. The lender must notify the borrower of the pending foreclosure.Yes. The lender must notify the borrower of the pending foreclosure.
Yes. Once the original contract is in default the lender can begin repossession proceedings under the UCC laws. In the majority of US states the lender does not need to notify the borrower or obtain a replevin order from the court.