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What else can I help you with?
If you cosign for a car loan can you be sued successfully?
Yes. If the signer defaults on the loan, then you, as the cosigner, would be liable.
If a cosigner files for bankruptcy does it put the primary signer under bankruptcy too?
No, the primary signer is still liable. But if a loan is not dischargeable, such as a student loan (actually is is extremely hard to discharge), both the primary and co-signer will STILL be liable after the bankruptcy
Signer on my mom's checking account?
Is there a question here? Do you mean how do I get to be a signer or what?
Would a cosigner be liable for debt?
Absolutely ! That's the whole point of someone co-signing the agreement. If the original person defaults on payments, the co-signer becomes liable !
Does a bad loan affect the cosigner?
Yes. That is the whole purpose of having a co-signer. They are liable for repaying the loan if the primary borrower defaults.
What is the difference between a cosigner and secondary signer?
General explanations of what you may be trying to clarify: Co-signer: Additional party who agrees to accept legal liability for a loan to strengthen the application submitted by someone else for credit. This person may have limited access to the account and transactions. Co-borrower: Equal partner in the borrowing or using of the proceeds of a loan. Equal liability, equal benefit, equal account access. Secondary Signer: Authorized agent on an account. This can be anything from an authorized user on a credit card (not liable for the account, user only), to a secondary authorized account member (checking, business accounts, stocks & bonds etc) who is able to initiate or approve transactions and have account access.
Can a mortgage company place a lien on a cosigner's home?
You bet they can. The co-signor is just as legally liable for the debt as the first signor. Yes. A cosigner is usually equally obligated for the loan, so anything they can do to one signer they can do to the other.
Can a signer on parents checking account use their money to pay their bills?
yes as long as you are a signer. Www.bank-credit-tip.info
What if primary account holder dies and there is a cosigner?
The co-signer will be required to pay off the debt. That's what they agreed to when they co-signed so that the primary could get the account.
Can you switch the cosigner to the primary and the primary to a cosigner?
It depends on the policy of the finance company. I used to work in the auto finance business, and the companies that I worked for would not do it because there was no reason to. Technically speaking, the co-signer is fully liable for the loan, just like the primary signer, so whose name appeared first on the contract had nothing to do with anything.
What does it mean to be a co-signer on a credit account?
It mean - BOTH people who sign the agreement are liable for the balance owing.
Can a cosigner for bail be held liable for the whole amount if the person does not show for court?
If the principle refuses or is unable to come up with the money, yes, th co-signer will have to make good.
