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If the person who the loan is for doesn't pay, the co-signer has to pay if thay don't pay it will afeect their credit also.
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∙ 12y ago
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Someone cosigned a loan for me and I since lost my job can this person file suit for the entire loan or just what she cosigned for?
No, you would have to redo the loan.
How can you get out of cosigner even through you already cosigned?
Pay the loan off and then collect payments from the person you cosigned for.
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
If you get married are you responsible for the loan your spouse cosigned for their sibling?
No.
The person you cosigned for on a car loan passed away am I still responsible for the loan?
Yes
What are the options if an exfiance wants off a cosigned student loan but the borrower cannot get another loan to pay off or refinance the cosigned loan and no the loan has never defaulted?
Since your ex-fiance cosigned on the loan, they are just as much obligated to the contract as you are. The only way they could get their name "off the loan" was, as you said, for the original borrower to obtain a new loan, in order pay off the original obligation. If this is not possible, then she is locked into the original contract.
You cosigned on a loan without mu spouses knowledge - Have you rished his business?
You are responsible for co signing the loan. If you are partners with your husband in his business, have a loan together on the business, then yes, the business becomes an asset that could be attached if the loan you cosigned on should be defaulted on.
Your Grandpa cosigned your student loan The loan was private He recently passed away Can you get the loan discharged?
No dude you are stuck.
If you cosigned for a car loan how can you get out of the loan?
The loan must be paid off or the lender must agree in writing to remove your name from the obligation.
Can a lien be put on my property if im a senior citizen without going to court 1st for cosigned car?
Unfortunately if you cosigned a loan that means you were willing to pay the loan if the other signer defaults and if that happen they will go by any means to collect that money that you "cosigned/said" you would cover if the other person defaults. I would go after that person that you cosigned for if it has gone this far.
Your recently deceased husband cosigned a home equity loan for your son Are you liable for the loan?
No just return the moneies
What happens when the signer of a car loan passes away and there is a cosigner as well?
The Cosigned assumes full responsibility of the loan.
