If the signature was not only forged but done without the knowledge of the person, the party involve has a bigger problem than a "repo". Be that as it may, the agreement was made fraudulently and the lender has the right to reposession and recovery of expenses, by whatever means necessary.
Generally speaking no. Cosigners are needed for a purpose, and most often it is because the primary debtors has bad credit.
Yes. It is a common misconception that cosigners are not responsible for the debt of the primary on the account they signed. I'm not sure how that started, or why it persists, but cosigners, comakers, coguarantors, and cobuyers are equally responsible for the debt they sign with the primary. Collections agencies will not waste a lot of time trying to get a primary to pay when there is a cosigner who is easier to locate. And, because both are equally responsible, there is no need to even try to get the primary who is not paying to do what they are already not doing when the contract was written based on the better credit of the cosigner.
dicovery :D
A cosigner must have good credit, a reliable income and the willingness to sign for another individual. Cosigners help primary borrowers build a good credit history, along with on-time payments.
The credit of the primary borrower(s) and the cosigner(s) are equally affected (positively or negatively) and both are subject to the credit history check and evaluation.
Generally speaking no. Cosigners are needed for a purpose, and most often it is because the primary debtors has bad credit.
Yes. It is a common misconception that cosigners are not responsible for the debt of the primary on the account they signed. I'm not sure how that started, or why it persists, but cosigners, comakers, coguarantors, and cobuyers are equally responsible for the debt they sign with the primary. Collections agencies will not waste a lot of time trying to get a primary to pay when there is a cosigner who is easier to locate. And, because both are equally responsible, there is no need to even try to get the primary who is not paying to do what they are already not doing when the contract was written based on the better credit of the cosigner.
dicovery :D
To make the car payments. Just be glad you have the car too.
More than likely, however you will still end up owing a balance on the car and the primary signer and co signer will still be responsible for the balance.
A cosigner must have good credit, a reliable income and the willingness to sign for another individual. Cosigners help primary borrowers build a good credit history, along with on-time payments.
It's possible but not a common practice. It would be at the discretion of the lender,or maybe included in the financial agreement.
yes, as co-signer you only guarantee the loan in case the primary defaults, they own the car.
Yes, a co-borrower is as responsible for a debt as is the primary borrower. The main difference between co-buyers and cosigners is that a cosigner generally does not have any claims to the property in question but bears the responsibility of repaying the debt should the primary borrowers default on the agreement.
Once a co-signer signs a loan agreement, they are guaranteeing payment of that expense. If the primary borrower either hits upon hard times or simply chooses not to pay, the company will go after a cosigner for the money they agreed to pay, if the main signer did not pay.
The credit of the primary borrower(s) and the cosigner(s) are equally affected (positively or negatively) and both are subject to the credit history check and evaluation.
yes because australia has a lot of resources that different countries need.