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If you're a cosigner and the primary misses payments just so it can fall on you and the primary benefits every time how can you fix this or can you take your name off the loan?
Wiki User
∙ 18y ago
That's why the bank required a co-signer, so that they could be protected. They didn't TRUST the primary to be able to maintain the payments. You may have to go to court to get title transferred, then just take over the payments and sell the asset yourself. This is where a lawyer might be helpful. You might also contact the lending institution and make a deal directly with them. Tell them that you'll take over the payments, but you want them to repossess the asset. If you talk to them you can often find a helpful person who is willing to give you the information that you need.
Wiki User
∙ 18y ago
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Does the lender have to notify you as a cosigner if the primary borrower fails to make a payment?
No, but if the borrower misses enough payments, the cosigner will start getting collection calls as well.
Can you make a cosinger's agreement in which you obtain ownership if the other party misses his payment?
That's what they do at the bank, if the main person does not make the payments the cosigner is responsible to take it over.
How will the credit card debt be divided between the husband and wife during a divorce when the debt is only in the wife's name?
It is up to the judge to determine who is responsible for repaying the debt owed on that credit card account. Unfortunately for the cardholder, if the husband is required by the court to repay the card, the wife is still responsible for ensuring that those payments are made. If he misses payments, then her credit score will suffer.
What if you co-sign for a daughters car loan?
Then you are responsible for the payment if she misses a payment.
Can i be ordered to pay for college tuition for your children if you missed the court appearance?
An obligor who misses a court appearance might be ordered to pay for college tuition. If the obligee misses that appearance, it is unlikely that the court would enter such an order.
Does the lender have to notify you as a cosigner if the primary borrower fails to make a payment?
No, but if the borrower misses enough payments, the cosigner will start getting collection calls as well.
Can you make a cosinger's agreement in which you obtain ownership if the other party misses his payment?
That's what they do at the bank, if the main person does not make the payments the cosigner is responsible to take it over.
Does the cosigner need to be contacted when the owner stops making payments?
Under federal law, I don't believe the lender has any obligation to contact you as soon as the borrower misses a payment. You need to ask the lender to do it, and get this in writing.
When is a car repossesed?
When the person misses too many payments.
How can you have your name removed from your daughter's student loan if she frequently misses payments?
You can't.
What are the benefits gained from reporting near misses in job places?
to prevent more near misses and by extension, accidents. the number of near misses is proportional to the number of accidents. so less near misses = less accidents. yay!
How do you spell misses in the phrase Daddy misses you?
Misses is correct.
What is Abbreviation for two misses?
The Misses....(Jones etc)
What happens if one misses two car payments?
There is a potential for the person to be liable for penalties. Or worse, there is a possibility of the person getting black-listed or the person losing the car and all the money paid for the car.
What is the plural noun of the misses puno and salvador?
The plural form of "misses" is "misses," so it remains the same whether referring to Mrs. Puno and Mrs. Salvador or multiple women who are married or "misses."
When was Thug Misses created?
Thug Misses was created in 2001.
When was She Misses Him created?
She Misses Him was created on 2000-10-30.
