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If took out a car loan for someone. They could not co-sign dut to bad credit. Can I sue if they stop paying me back?
Wiki User
∙ 14y ago
No, by signing the contract as a co-signer you automatically accept the responsibility if the signer is not paying you will be financially responsible for the loan. There is no legal action you can take against the signer. For more information you can visit http://www.autocreditfinancial.ca IN some states you can recover your lose through small clames court you will have to check the law in your state.You can do this by looking on the net by pulling up your states general statue laws.
Wiki User
∙ 14y ago
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Could someone get arrest for not paying a credit card debt?
yes after 1 day ur done
Where could one finance automobile purchases with a good interest rate on their loan?
The best way to receive a good interest rate on your loan is to either have a good credit score or have someone cosign with a good credit score. You can usually receive the best rates with banks or credit unions that you have been a member of for a prolonged period of time.
How could one repair their credit?
There are many tips to improve credit. One can repair credit by reviewing credit reports for accuracy, paying down credit cards, using a budget, and paying off small to big debts.
Do you have to be a relative to cosign?
no.my father cosigned for me,but the bank told me that anybody could cosign..good luck to you.
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 .
If you cosign a car loan for someone and they while under suspension could you be in trouble too?
Co-signing a note means you will be legally liable if that person can not pay.
Can you co-sign for a car loan if you went bankrupt?
It is possible that you could cosign an auto loan after you filed bankruptcy. It is not likely though. It would depend on a number of factors, not the least of which is your current credit number.
What type of merchant accounts could someone open with bad credit?
Someone with bad credit could open a merchant account with their bank, provided that their bank offers merchant accounts. Additionally, someone with bad credit could open a merchant account overseas, as overseas merchant processors don't typically pull credit reports.
Where could someone in need of a loan but with bad credit obtain finance?
There are a few ways that someone with bad credit can obtain finance, The first is to use a home equity line of credit and you could also apply to credit unions or receive a peer to peer loan.
How many years could someone get for fraud on a credit card that was only 200 hundred dollars?
how many yrs could someone face in jail for fraud a credit card that someone only spent 200 dollars
If you need a cosigner for a loan and you have someone with a credit score of 700 who will cosign but they only made 12k last year will they be approved?
The credit score could indicate that the person is responsible in their financial dealings. Unfortunately the salary amount would not be favorable. Many lenders will, however, look at the overall financial picture of the cosigner; for example the person's debt to income ratio, potential for increased future income, etc.
If you received a credit card but the misspelled your name on it could you get away with not paying?
Try it out.... buy a sports car.... and a llama
