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The creditor would likely claim the cosigner is still responsible, but unless it is in the original agreement that such increases are part of the contract the cosigner could make a case for being relieved of the responsibility or only being responsible for the origninally quoted amount.

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โˆ™ 2006-06-20 18:17:00
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Q: Is a cosigner responsible to pay a credit card debt if the credit card limits are increased from what was originally cosigned?
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Is the cosigner responsible for other debts beside the item such as house rental he has cosigned for?

A cosigner is only responsible for the items that he has cosigned for.


How can you get out of cosigner even through you already cosigned?

Pay the loan off and then collect payments from the person you cosigned for.


Is a cosigner responsible for overage miles?

A cosigner is responsible for anything the primary party does not pay.


Can a cosigner put the debt that they cosigned for under bankruptcy to release them from the debt if the debt is not in default?

Yes.


How can you be a cosigner if the title is in the name of the person you cosigned for?

Many people cosign a loan for property they don't own. Many are uninformed of the consequences of cosigning. They don't realize they are agreeing to be completely responsible for a loan for property that belongs to someone else. If the primary borrower defaults on the loan and the cosigner must make the payments, the cosigner has no automatic right to the property.


I cosigned a loan for my granddaughter she has filed bankruptcy will her creditors come after you too?

If you are a cosigner on a loan, you are responsible for the debt of the loan if the primary signed defaults on the loan. So, yes you can be called to pay on the loan by the creditors.


I cosigned on an automobile loan and insurance for my son. Who is responsible if the insurance is not paid up and he gets in an accident?

As a cosigner, You are jointly and separately liable for any and all amounts that might arise out of the finance note you guaranteed.


What happens when a loan is cosigned and the borrowers file bankruptcy but the cosigner is deceased?

The loan would be part of the bankruptcy filing. I can't see how the death of the cosigner is significant. (In financial terms, that is.)


What does severed from a judgment meanI was severed from a judgment but it turned up again. A lawyer sent a subpeona to my job . Can i be responsible for this judgment.I was the cosigner.?

You may be held responsible for the judgment if the original borrower fails to pay. When you cosigned for the loan you were agreeing to pay it if the borrower defaulted.


If the cosigner files bankruptcy and claims the debt of the cosigned loan is the cosigner relieved of the cosigned debt?

Unfortunately, no. For all co-signed debts, both signers are liable for repayment of the debt. When one party has their obligation discharged by bankruptcy, the remaining debtor becomes 100% liable for repayment of the balance.


When someone is a cosigner on the loan of your car does that mean he owns any part of it?

when you cosign on any kind of loan you dont have to pay anything unless the person you cosigned for does not pay the loan, then you are responsible for that the remaining balance on the loan


How do you get your name off of an auto loan that you cosigned on if other party cannot get another loan and has nobody willing to take over as cosigner?

A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.


What happens when the signer of a car loan passes away and there is a cosigner as well?

The Cosigned assumes full responsibility of the loan.


If you cosigned a loan and then went bankrupt and the original loan person skipped on the loan are you now liable as the cosigner even though you went bankrupt before?

Yes you are still responsible, especially if you didnt put it in your Bankruptcy, Any obligation you dont include you are still responsible for


If a car was voluntary repossessed and the cosigner was not notified is the cosigner still responsible?

Yes. If you signed the loan, you are still legally responsible for it.


Can a cosigner of an apartment sue the people he cosigned for after they were evicted and left him to pay unpaid rent and other fees?

Yep - sure can.


Is the spouse of a deceased cosigner responsible for the debt?

The ESTATE is responsible.


If you cosigned for a car and it got repossessed voluntarily what will it do to your credit and will you owe?

Whether a repossession is done "voluntarily" by the primary or through the action of the lender, the primary borrower and the cosigner are still legally responsible for all the terms of the lending agreement. The affect the repossession has on the cosigner's credit history will depend upon the actions of the lender to recover the debt owed.


Does a cosigner have to have a job?

No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.


If you are getting a divorce and your husband cosigned for someone who pays?

The husband, solely. Provided that his signature is the only one on the documentation as being the cosigner. If the wife's name also appears on that document, then both parties are responsible for the debt should the first payee default.


Is the cosigner of a vehicle responsible for the negligent operation of the vehicle?

No. A cosigner is just responsible for paying it off if the negligent driver wrecks it and and can't work to make the payments.


Is a cosigner responsible for damage done by the tenant?

Yes, the co-signer is responsible.


What legal recourse is there for the cosigner when the person that was cosigned for has defaulted on the loan?

The usual legal recourse for the cosigner when the person named as the primary on a loan has defaulted, is to make the payments on the loan. Then, the cosigner can take the person who defaulted to court to try and recoup some of the money they are out. If the loan was for a car, some states allow the cosigner to take possession of the car and sell it to recoup losses also.


What responsibility does a cosigner on an apartment lease have?

a cosigner is a person who is responsible for the rest of the rent that you don't pay if u get evicted the person who signed as a cosigner will have to go to court


How do you know if you are a cosigner or co owner?

A "Cosigner" is a "Co-owner." Cobuyers and buyers are equally responsible for the note they signed.