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If a student loan is paid in full by the student does the cosigner have to pay the like amount also?
Wiki User
∙ 8y ago
Cosigning means you will pay any amounts the borrower does not pay, so if your son has paid the loan off, it is done.
Wiki User
∙ 8y ago
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Would settling an active credit card account for less than the full amount affect a cosigner?
Yes. Any transactions good or bad are reported on the cosigner's CR.
Can a cosigner sue the primary for the full amount of loan when the cosigner pays it off?
A cosigner can only sue if the primary borrower signed an agreement for the cosigner to pay the debt and then be reimbursed. The consignor can not sue if they, at their own liberty, decided to just pay the debt.
Can a reference be hold liable for a loan that is not paid back in full?
In the U.S. no, unless the reference is also a cosigner.
If I am a cosigner on a car loan and it gets repo is the owner of the car responsible for the remaining balance after it is auctioned or is it the cosigner's responsibility?
Both are responsible until paid in full. It will also be on both credit reports as well.
If a loan application is filled out incorrectly can a cosigner still be liable for the loan amount Ex such as a signature on the wrong line or not containing a full name?
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What can a 70-year-old cosigner on a car loan be held responsible for if the loan is found in default?
The cosigner has the same legal obligations to repay the debt as does the primary borrower. If the primary borrower defaults, the lender can begin proceedings to collect the full amount owed plus applicable fees from the cosigner. A cosigner can be sued just as can the primary borrower. And if the primary borrower claims bankrutpcy, the cosigner will still get "stuck" with the debt. The credit report of the cosigner will be equally affected, either in a positive or negative way, depending upon the circumstances.
Does the cosigner have any recourse if the primary borrower has decided not to pay on time or the full amount?
Not really, no. You can sue him for damages, but ... that takes time. And maybe there is not much to collect anyway.
What cost of attendance is the amount of money it cost to complete?
one year as a full-time student
Cost of attendance is the amount of money it costs to complete what?
one year as a full-time student
Cost of attendance is the amount of money it cost to complete what?
one year as a full-time student
Can the cosigner of a student loan be removed from the loan after the student finishes college and has a job and the ability to repay on his own?
No, a co-signer is legally and equally obligated until the loan is paid in full or until the loan is refinanced w/o the original co-signer being a party to the action.
What can I do if I have paid my half of rent on time but my cosigner hasn't and my landlord has refused to accept my half and is now threatening to evict us?
You can pay the rent in full and then it is up to you to collect the half from your cosigner or get evicted. Your landlord didn't rent you your half for half the rent. The landlord rented bouth of you the whole space for the whole amount.
