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The signers on a lease are liable for charges during the term of the lease.
Yes. If you default on your car loan you will remain liable for the debt.
Yes.
No just return the moneies
Unfortunately, no. For all co-signed debts, both signers are liable for repayment of the debt. When one party has their obligation discharged by bankruptcy, the remaining debtor becomes 100% liable for repayment of the balance.
They are not personally liable, except in the sense that the assets in the estate must be used to pay the promissory note. Thus there will that much less in the estate for them to inherit. If there are insufficient asset to pay the debt, then the holder of the note loses out on the amount that cannot be paid out of the estate.
No, Kentucky is not a community property state.
The spouse cannot be held liable, however it is quite possible that the debt is no longer valid for collection. The person who cosigned the loan should find out what the SOL is in the state in which the contract was signed.
As a cosigner, You are jointly and separately liable for any and all amounts that might arise out of the finance note you guaranteed.
In much the same way as an insurance company earns money. A bail bond is basically an insurance contract paid for by an arrested person to get out of jail before trial. The person pays a premium for the bond based on the amount of the bond. If the person shows up for trial, the bondsman keeps the premium. But, if the person skips town the bondsman will have to forfeit the entire amount of the bond to the state of federal government. It works like life insurance only instead of the insurer/bondsman paying the face amount of the policy on the death of the insured, the bondsman pays it on the faiure of the person to show for trial.
The full dollar amount
The person who was "cosigned for" is still liable and the collateral is still collateral, it's just owned by the estate now. Same laws still apply