Top Answer
User Avatar
Wiki User
Answered 2015-07-15 19:16:21

EITHER/OR. they both signed and agreed to pay.

User Avatar

Your Answer

Still Have Questions?

Related Questions

Who is responsible for company credit card after the company declares bankruptsy?

The company. The liability is one of the many the BK will resolve. Of course, if there was a cosigner or such on the credit line, they are involved too.

Who has control of company vehicles with a cosigner?

Control in what sense? Sell them, transfer title? The cosigner guarantee's the loan on the vehicles and would need to agree to selling them and sign the title. You can use them for any purpose, do anything with them including burning them. You will still be responsible for the loan and if not you the cosigner will have to pay the loan off.

Can a mortgage company put a lien on my moms paid off home if she is a cosigner for my mortgage that is deliquent?

Yes, the mortgage company can do that. She co-signed for the loan and is responsible for it if you don't pay. She can lose her house.

If you get a cosigner for a new car and you crash it can they be held responsible?

If you're insured, the insurance company should take care of the damages, but to answer your question: You're responsible just for the car payments in case the primary owner can't make them.

Who is responsible for a deceased mother's car loan if the loan company is holding the title as collateral?

Nobody is responsible for the loan if there was on cosigner. If the car was inherited by someone, then that person has a right to pay the debt owed and take possession of the title.

If the primary owner of a car files for bankruptcy and it is discharged and the car is back with the company will the co-signer be liable for the payment?

The cosigner will be the person who will be held responsible for paying any deficiency depending upon when the BK was filed. If the BK was filed under the new bankruptcy reform laws the cosigner can be held responsible for the entire amount of the loan.

Is a cosigner still responsible if the first party filed bankruptcy but reaffirmed the car loan?

The company wants their money so if the primary doesnt pay then the cosigner must. Their is no way of getting around this. Bankruptcy should be outlawed. If you cant afford things dont take on the debt.

Does the cosigner on a mortgage need to be on the purchase and sale so the seller is aware of a cosigner?

That is an issue between the mortgage company, the buyer and the cosigner. The seller's only worry is selling the property and getting paid.

If the father is primary and his college student child is cosigner who is responible for the insurance?

The answer will vary from state to state, loan to loan and insurance company to insurance company. However, in most jurisdictions the DRIVER is responsible for insurance, regardless of who owns/titles/leases the vehicle. If I understand your question, you are asking whether the principal on the loan or cosigner is responsible for insurance? Most insurance companies could give a rats donkey WHO carries insurance, so long as insurance meets the loans stipulations, but you would be best suited asking the insurance company.

Is the company responsible when employee is assaulted on the job?

No, the company is not responsible when a person is assaulted on the job. The person who assaulted them is responsible.

What credit card companies will allow you to apply with a co-signer?

If the cosigner has a good credit rating any credit card company would be more than happy to let them cosign. All credit card companies are interested in is getting their money back. The cosigner should always be as sure as possible that the person they are cosigning for is reliable and will pay back any outstanding balance because if they don't the cosigner is 100% responsible in paying that debt back!

What is more correct a or an environmentally responsible company?

"An environmentally responsible company" is more correct.

How long does a company have to inform a cosigner that the borrower is in default in payment?

It is their legal right to never inform you and simply allow your credit deteriorate. It is your job as the cosigner to make sure the contract is up-to-date.

If you filed for bankruptcy would the cosigner of your auto loan be forced to take over payment?

The answer is that the cosigner would be left responsible for taking over the payments. If the cosigner wants to maintain his or her credit rating (which is probably damaged due to your filing bankruptcy), If the consignor does not want the auto loan people to sue for any remaining balance, then he or she will need to keep making the payments. If the auto loan company sues for any remaining balance and gets a judgment, then the auto loan company will go after the assets of the consignor and or garish their earnings. attempt o seize their assets or garnish their earnings.

Who is legally responsible for debt the holding company or the limited company?

I think clients and public who did business with company or with company products are directly responsible legally.

Can a finance company repo YOUR car if YOU are not behind on YOur payments in Washington state?

If you are up-to-date then no, if you are a cosigner there may be complications...

If you voluntarily return a vehicle to the finance company are you responsible for the balance after the sale of the vehicle?

Yes, a voluntary repossession does not mean the buyer is not responsible for any of the remaining loan debt according to the original contract terms or for any additional fees.

Who is responsible for health and safety in company?

Everyone is responsible for safety in a company. The management of a safety program is the responsibility of line management,

What oil company is responsible for the disaster in the Gulf of Mexico?

BP is responsible for Gulf oil spill. (the british petroleum company)

Whom is the company responsible to?

Companies are responsible to their shareholders (or owners in a private company) for making a profit and to governments for obeying the laws.

When was The Original Bad Company Anthology created?

The Original Bad Company Anthology was created in 1973-11.

Who is the company proctor and gamble responsible to?

The Proctor and Gamble company is responsible to the shareholders of the company to generate income; they are responsible to the people where their products are manufactured and sold to make safe products safely; they are responsible to their employees to provide a safe working enviornment; they are responsible to the governments where they manfacture and distribute their products to comply with the regrulations in those places.

Can you pay your debt to the original company if the debt has been passed to a credit company?

No because the original company has 'sold' the debt to the credit company or in other words the credit company has bought the debt account from the original company for less than what you owe. That is why credit companies keep chasing you to pay them.

If the borrower cannot make the payments but the cosigner does can the mortgage company still take the house?

Not if the cosigner has been making the payments on time. But often the cosigner doesn't know the loan is in default until it is past due 30 days or more, so if you have received two or three (depends on state laws) Right To Cure Default letters, the bank can foreclose.

Can you sue loan company for using minor as a cosigner?

A minor cannot enter into a legal contract. Any loan they are a party to is invalid.

Still have questions?

Trending Questions
How to Make Money Online? Asked By Wiki User
Best foods for weight loss? Asked By Wiki User
Does Neil Robertson wear a wig? Asked By Wiki User
Unanswered Questions