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What else can I help you with?
Is a cosigner's spouse responsible for the loan if he dies?
No you are not responsible but if your step daughter does not pay the loan they can still repossess the vehicle.
My daughter was stupid to cosign her friend's dental loan. The loan will likely be in default soon. A year after I become aware of it. Can she be removed from loan if - she was 18 and had no income?
An 18 year old is of legal age to sign a binding contract. The fact that she had no income makes the loan riskier for the lender but has no bearing on her overall contractual responsibility. Your daughter will be (and should be) held responsible for the debt. One suggestion I would have is that your daughter should consider getting herself an income (ie a job) asap to help pay off the loan that she guaranteed. The lesson for her should be: If you don't want to pay for the loan, don't sign for it!
Can you use a car as a trade in for your new car if the trade in is titled to your daughter and has an out standing loan signed by another person and your daughter agrees to the trade in?
your daughter would have to sign the release documents for her car. As for the loan, whoever signed the loan would still have to pay the loan, regardless. The loan doesn't go away. If you do consider this, make sure there aren't any liens or any other claims to that car, through the bank or other institution.
How can I have my daughter's name removed from a mortgage?
The lender owns the mortgage and a lender will not generally remove any name from the obligation to pay. The only way for you to get your daughter's name off the debt is to pay the loan off and refinance in your own name.
Can you pay back a loan with the loan money?
No, you cannot pay back a loan with the same loan money.
What happens when you pay the principal on a loan?
When you pay the principal on a loan, you are reducing the amount of money you owe on the loan. This helps to decrease the total amount of interest you will have to pay over the life of the loan and can help you pay off the loan faster.
How can I pay my mortgage loan on-line?
“How can I pay my mortgage loan on-line?”
How do you get ex boyfriends name off joint auto loan?
You need to pay that loan off and refinance if necessary.You need to pay that loan off and refinance if necessary.You need to pay that loan off and refinance if necessary.You need to pay that loan off and refinance if necessary.
What is it called when you don't pay back a loan?
Failing to pay back a loan is called defaulting on the loan.
How do you sell motorhome with a loan balance?
You must pay the loan balance out of the proceeds at the time of the sale.You must pay the loan balance out of the proceeds at the time of the sale.You must pay the loan balance out of the proceeds at the time of the sale.You must pay the loan balance out of the proceeds at the time of the sale.
Can you use loan money to pay off another loan?
Yes, you can use a loan to pay off another loan. This is known as debt consolidation.
What is the pay-off on your loan?
It's the amount you need to pay to close your loan, usually before the term of the loan is complete.
