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If one person obtains a loan can they claim another persons income if they dont cosign?
Wiki User
∙ 14y ago
No. No income not belonging to an obligated borrower may be considered.
Wiki User
∙ 14y ago
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Can you cosign on an auto loan if you financed a car recently?
Yes, as long as the person you are co-signing for has an income. The rule is one income one loan two incomes two loans.
How does cosigning for an auto loan affect your ability to get your own auto loan?
Never cosign a loan. While I agree that one should NOT cosign. cosigning can hurt or help. Remember that if they do not pay you have to. Cosigning will affect your credit and count towards your debt to income ratio and show as an open joint auto loan. You might be turned down to get your own auto loan without a cosigner if you cosign.
Should you cosign an auto loan if the borrower filed chapter 13?
Chapter 13 is a payment plan form of bankruptcy. You make payments to creditors based on your income over a set number of years. It is the more responsible choice over other forms of bankruptcies. You take a chance anytime you cosign. It should be based on the borrowers character.
How much money do the average people have?
The average persons have different jobs and there for they bring in different income. :)
Can a person with bad credit cosign for a car loan?
I don't think so. The reason for a cosign is because the person buying the car has bad credit and the cosigner is a guarantee to the bank the loan will be paid. Two bad credit reports doesn't equal one good one. Since you have credit problems I wouldn't sign because that will add to your debt ratio to income and actually harm your credit.
What is a persons taxable income?
Persons taxable income is the taxable income of any individual like owners or anybody in normal life which includes salary income, income from any business in partnership etc.
What is a persons income in el salvador?
its income is about 1000 a week
What is transfer income?
it is a method of transferring income, such as welfare to persons.
Can you cosign on an auto loan if you financed a car recently?
Yes, as long as the person you are co-signing for has an income. The rule is one income one loan two incomes two loans.
Best definition of taxable income?
The portion of a persons income that is eligible for taxation
Why should a retired grandparent not cosigh a student loan?
Grandparents might not cosign a loan because they might not trust a grandchild or the grandparents might not think they will have the income. Sometimes grandparents simply do not like to cosign loans. Ask the grandparents. Most grandparents will give an explanation.
How does cosigning for an auto loan affect your ability to get your own auto loan?
Never cosign a loan. While I agree that one should NOT cosign. cosigning can hurt or help. Remember that if they do not pay you have to. Cosigning will affect your credit and count towards your debt to income ratio and show as an open joint auto loan. You might be turned down to get your own auto loan without a cosigner if you cosign.
Why do we have low income housing?
This is for persons who are receiving low income and can not afford anything more expensive.
What is another word for Gross income?
Another word for gross income is taxable income. This is the income before taxes are taking out.
What kind of tax is paid on a persons salary?
That would be income tax
What is a payment to the church of 10 percent of persons income called?
Tithe
What form lists the standard deductions that can be subtracted from a persons income?
1040EZ
