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The loan will go into default and the co-signer will be notified by the lender since the co-signer is legally responsible for the loan, which is why the lender wanted a co-signer in the first place.
The co-signer should try to arrange notice from the lender when a payment is late.
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If you are the co-owner of a car and will continue to pay on it how will filing for Chapter 7 affect the owner's credit?
It doesn't unless the bill doesn't get paid one way or the other. If you own the car and file for bankruptcy, the co-signer's credit does not change as long as the bill still gets paid. If the co-signer files, the owner's credit does not change unless the bill doesn't get paid.
Can a co-signer of a car transfer all debt to the main signer of a car?
No. The co-signer will be responsible for paying the loan until it is paid off.No. The co-signer will be responsible for paying the loan until it is paid off.No. The co-signer will be responsible for paying the loan until it is paid off.No. The co-signer will be responsible for paying the loan until it is paid off.
Can a co-signer make a primary signer refinance?
No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.
How do you avoid paying a debt as co signer?
The only way to avoid paying a debt as a co-signer is to never be a co-signer. Once you sign you guaranty the loan will be paid if the primary borrower stops paying.The only way to avoid paying a debt as a co-signer is to never be a co-signer. Once you sign you guaranty the loan will be paid if the primary borrower stops paying.The only way to avoid paying a debt as a co-signer is to never be a co-signer. Once you sign you guaranty the loan will be paid if the primary borrower stops paying.The only way to avoid paying a debt as a co-signer is to never be a co-signer. Once you sign you guaranty the loan will be paid if the primary borrower stops paying.
Will the lender check the co-signers credit?
Yes. The purpose of requiring a co-signer is to guarantee the loan will be paid if the primary borrower fails to pay. Therefore the lender will check the co-signer's credit and the loan will appear as a debt on the co-signer's credit record.Yes. The purpose of requiring a co-signer is to guarantee the loan will be paid if the primary borrower fails to pay. Therefore the lender will check the co-signer's credit and the loan will appear as a debt on the co-signer's credit record.Yes. The purpose of requiring a co-signer is to guarantee the loan will be paid if the primary borrower fails to pay. Therefore the lender will check the co-signer's credit and the loan will appear as a debt on the co-signer's credit record.Yes. The purpose of requiring a co-signer is to guarantee the loan will be paid if the primary borrower fails to pay. Therefore the lender will check the co-signer's credit and the loan will appear as a debt on the co-signer's credit record.
Who name do the title come in if im a co singner?
The signer co-signer is just backup until its paid for but the actual title stays with the lean holder if it's not paid off.
How do you remove the co signer on the mortgage?
The mortgage must be paid off and refinanced without the co-signer.The mortgage must be paid off and refinanced without the co-signer.The mortgage must be paid off and refinanced without the co-signer.The mortgage must be paid off and refinanced without the co-signer.
How is the co signer affected if the primary borrower defaults on a home equity loan?
The bank providing the loan will go after both the primary borrower and the co-signer to get the loan paid back. If the co-signer has more assets/is more liquid than the primary borrower, the bank may just focus on the co-signer as both parties (the co-signer and primary borrower) have full responsibility for the debt regardless of who benefited from the cash.
Is the co signer the same as the co buyer?
No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.No. The co-buyer has an ownership interest in the property. The co-signer does not and only guarantees the loan will be paid. The co-signer is equally responsible for paying off the loan if the primary borrower fails to pay.
Can a co-signer of the mortgage be an Australian?
No. A U. S. lender would require a co-signer who is local and subject to U. S. law. The purpose of requiring a co-signer is to make certain the loan will be paid in the case of a default by the primary borrower. A co-signer in Australia would be out of reach.No. A U. S. lender would require a co-signer who is local and subject to U. S. law. The purpose of requiring a co-signer is to make certain the loan will be paid in the case of a default by the primary borrower. A co-signer in Australia would be out of reach.No. A U. S. lender would require a co-signer who is local and subject to U. S. law. The purpose of requiring a co-signer is to make certain the loan will be paid in the case of a default by the primary borrower. A co-signer in Australia would be out of reach.No. A U. S. lender would require a co-signer who is local and subject to U. S. law. The purpose of requiring a co-signer is to make certain the loan will be paid in the case of a default by the primary borrower. A co-signer in Australia would be out of reach.
Does a co-signer have right to the vehicle after it is paid off?
The cosigner has equal right to the vehicle whether it is paid off or not.
Does a co signer have right to the vehicle after it is paid off?
The cosigner has equal right to the vehicle whether it is paid off or not.
