0
If a child defaults on a student loan co-signed by a parent can the parent sue the child to recover the amount they are forced to pay?
Wiki User
∙ 17y ago
No, when the parent cosigned the loan, they agreed to pay what the child couldn't. * Yes, the contract that was cosigned was between the borrower's and the lender. A cosigner has the legal right to file suit against a primary borrower for financial damages incurred due to the primary borrower defaulting on the contract.
Wiki User
∙ 17y ago
Add your answer:
Earn +20 pts
What happens if your niece defaults on a loan you have cosigned?
you have to pay the amount. You co signed so it ruins your credit. take her to judge judy to get your money!
If you cosign for your girlfriend at a dealership so she can get a car does it effect any loans or lones of credit that you may already have with another bank or institution?
Yes, it goes onto your credit report that you cosigned a loan because you could become responsible for the loan if she defaults. So, that amount of money does show up on your credit and could affect your credit worthiness .
How much pp does recover have in Pokemon?
The amount of PP Recover has is 20, but can be increased by 1 for every "PP UP" you find :)
Am I responsible to repay a cosigned mortgage upon default?
If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.If you are the co-signer the answer is yes. That's why the bank required a co-signer. When you signed you agreed to be responsible for paying the full amount of the loan if the primary borrower defaults. In the case of a mortgage for another person's property, you agreed to pay for property that you don't own. You should read the documents you signed.
What causes Mortgage defaults to rise?
In the USA there is speculation that the 2005 bankruptcy reform caused an increase in mortgage defaults. By declaring bankrupty, homeowners can keep their homes. The problem created in 2005 occured when filing fees were raised and a lower amount of debt was forgiven.
If you were doing a research study on sleep and student achievement which might be the hypothesis?
The amount of sleep a student gets affects the students achievement
How should a student describe the mass of his body?
The student should describe the mass of your body in the amount of matter in the student's body.
If you cosigned for a vehicle will this hurt your chances of purchasing another one?
It depends on your debt to income ratio and the total amount finance of the other vehicle. If you can afford two cars, it should not be a problem.
What is the amount of an average student loan?
The average Student Loan in 2009 was just over $23,000.
What are malpractice caps?
a malpractice cap is a limit to the amount one can recover in a malpratice lawsuit.
If you were doing a research study on sleep and student achievement, which of the following might be the hypothesis?
The amount of sleep a student gets affects student achievement
What is the average amount of student debt after graduating from college?
a lot
