The idea of being a co-signer is that you have attested, in a written agreement, that you will take over whatever payments when the original signer is unable to do so. If you had no intention of ever doing that when signing a legal document, then one deserves to be evicted. Landlords have bills to pay, too ... try wearing and walking in their shoes in situations like this and ask yourselves, "what would I do if I was on the short end of the stick here?"
When the person who a co-signer, co-signs for ,gets evicted, what are the rights of the co-signer? Does the co-signer have the right to correct this problem , before theres an eviction?
If you were a co-signer on the apartment, the eviction may become part of your record.
The only way to avoid paying a debt as a co-signer is to never be a co-signer. Once you sign you guaranty the loan will be paid if the primary borrower stops paying.The only way to avoid paying a debt as a co-signer is to never be a co-signer. Once you sign you guaranty the loan will be paid if the primary borrower stops paying.The only way to avoid paying a debt as a co-signer is to never be a co-signer. Once you sign you guaranty the loan will be paid if the primary borrower stops paying.The only way to avoid paying a debt as a co-signer is to never be a co-signer. Once you sign you guaranty the loan will be paid if the primary borrower stops paying.
can a primary co signer take the car away from a secondary co signer
The lender will go after the co-signer for payment.The lender will go after the co-signer for payment.The lender will go after the co-signer for payment.The lender will go after the co-signer for payment.
The lender will go after the co-signer for payment.The lender will go after the co-signer for payment.The lender will go after the co-signer for payment.The lender will go after the co-signer for payment.
No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.
Yes, the obligation will be reflected on the co-signer's credit. Lenders do not differentiate between a signer and a co-signer. Both are responsible for the repayment of the loan. If the signer stops making payments, the lender will look to the co-signer for full repayment of the obligation. Co-signer be aware!
The co-signer is typically a person who signs for the car loan; the co-signer may or may not be listed as a co-owner on the title. If the co-signer is also a co-owner, the co-owner who is paying the loan can legally take the car. However, if the co-signer is not a co-owner, taking the car would be grand theft auto. Incidentally, if the co-signer is not also a co-owner and the loan falls into default, both the signer and the co-signer will be identified in credit reports as defaulting on a car loan, even though the co-signer did not have or use the car.
No. The co-signer would be responsible for paying the loan.No. The co-signer would be responsible for paying the loan.No. The co-signer would be responsible for paying the loan.No. The co-signer would be responsible for paying the loan.
The co-signer can sue the primary debtor for reimbursement of what the co-signer pays the creditor.
Yes. That's the purpose of a co-signer, to guarantee the conditions of the contract in the event of default by the other signer.