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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.
If I am a cosigner on a car loan and it gets repo is the owner of the car responsible for the remaining balance after it is auctioned or is it the cosigner's responsibility?
Both are responsible until paid in full. It will also be on both credit reports as well.
Can a cosigner be held liable for primary owners parking tickets?
only the people on the title are responsible for tickets. cosignors are on the loan and they will pay-pay-pay don'tcosign on anything
Who is responsiblie if Someone not listed on your rental car contract got a traffic ticket?
Traffic tickets are not given to the car. The person that got the ticket is responsible. Tickets that are given to the car the renter is responsible. ie parking tickets
Is a cosigner responsible for overage miles?
A cosigner is responsible for anything the primary party does not pay.
How can the cosigner be soley responsible for a repossesion of a car?
According to the law, a cosigner signs for someone else that they think might not pay off the load. The cosigner signs a contract agreeing to pay the loan off if the other person does not. He can be solely responsible becase he signs a contract promising to do so.
Does the lender on a car loan have to notify the cosigner before they repossess the car in TN?
They should since they are just as responsible for making payments as the primary.
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.
Is the spouse of a deceased cosigner responsible for the debt?
The ESTATE is responsible.
If you gave a charged off car back to the cosigner would I be responsible for what they do with it?
Yes. You signed the loan agreement, so you are liable.
Can someone garnish a cosigner for a car and garnish the primary also?
In the State of Texas, the answer would be "YES" as both parties signed for the car loan and both are responsible for the balance due. I was the primary signor but the cosigner had the car and was making the payments. Then she stopped making payments after owning the car for 3 years and the car was repossessed.
What are the rights of a cosigner?
A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.
