answersLogoWhite

0


Best Answer
Copy

I believe you have 3 choices.

  1. 1. Pay the loan off.
  2. 2. Do the B/K route.
  3. 3. Make sure the lender can find the primary debtor so they can get the money from s/he. If they had any money to start with, you wouldn't have had to co-sign, rite? BUT it is TAX time, maybe they will help you with their refund. Good Luck
User Avatar

Wiki User

โˆ™ 2015-07-17 17:40:01
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0
User Avatar

Add your answer:

Earn +5 pts
Q: Is the cosigner responsible if the bank repossessed the loan without notifying them first?
Write your answer...
Submit

Related Questions

As a cosigner can you have a vehicle repossessed without affecting the cosigner credit rating?

Nope.


Is a cosigner liable for the balance of a repossessed vehicle if the loan company auctioned it without notifying them?

READ your contract you signed. Call a local attorney for state specific legal advice.


What happens if one co-buyer of a vehicle lets the car get repossessed and moves abroad without paying the deficiency?

The other co-owner or cosigner will be responsible for the debt.


Is the cosigner of an auto loan responsible for the loan if the loan was refinanced by the buyer without the knowledge or consent of the cosigner?

No, the refinancing without the consent or knowledge of the original cosigner created a breach of the original lending agreement and the cosigner is no longer legally obligated for the debt.


If your car was repossessed and the lender sold it without notifying you what are your rights when they try to collect for the difference?

requirements vary by state. call a local attorney for guidance.


Can you get a student loan without a cosigner?

Yes if you are a US Citizen you may get a loan without a cosigner. However, your % will be higher in terms of interest. As a result it is best to have a cosigner.


If you move abroad without paying the deficiency of about 12000 dollars on your repossessed car can you be arrested or detained upon reentering the US?

YES! Just wondering how you know that? What would the crime be? What if the person had a cosigner?


What can you do legally if your camper has been repossessed without anyone notifying you?

Very little ! If you default on the payments, the finance company are quite within their rights to confiscate the vehicle. The camper does not become your property until you have made the final payment !


How can a cosigner be removed from the loan?

The only option is for the loan to be refinanced without the particpation of the present cosigner.


If you are a cosigner in someone's loan for a line of credit and he is at default what can the cosigner do to take his name back?

Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.


How do you get a student loan without a cosigner?

SallieMae.com offers loans to sophomore or higher college students with out a cosigner.


Can an attorney put a lien on your home without notifying you?

YEP!


What do you need to qualify for student loans without cosigner?

Student loans are provided without consigner based on needs. For example if you are independent from your parents, you can qualify for student loans without cosigner.


Can you refinance your car without a cosigner if your current loan has a cosigner?

if you take it to your personal bank and ask them how much you need to have paid already they can indeed refinace you and remove the cosigner


How can I get a student loan without a cosigner?

Although it is very difficult to get loan without cosigner. Majority of the students don't apply because they don't have any cosigner. But now a day many organization are helping such student who don't have any cosigner. You can apply for such loan that not required cosigner. These loans called no cosigner student loans. You can find a detailed procedure through link that is in "Related Links"


What are the consequences if a cosigner on a car loan sells the car without the permission of the other cosigner?

Possible fraud charges.


Can my cosigner take their name off the loan without my permission?

The only way to take a cosigner off of a loan is to refinance it.


Can credit card companies lower your limit without notifying you?

Yes


Can a company charge your credit card for a renewal without notifying you?

Yes


What are the legal responsibilities of a cosigner on a lease agreement?

The legal responsibilities of a cosigner on a lease agreement are the same as the tenant without the benefit of tenancy.


When could women legally get a checking account on their own without a cosigner in the US?

women could legally get a checking account on their own without a cosigner in the U.S. in present day today.


What happens if a cosigner refinances a primary signers loan without notice?

If the first loan was refinanced it must have been paid off by the second loan. You are not responsible for the second loan if you didn't sign it.


Does the cosigner that's name is 2nd actually count?

Yes, of course your cosingers signature means something. It means that there is no way for to have been approved for what you applied for without their good credit to back you. It also means ,God knows I hope your cosigner has some sense, that your cosigner is 100% responsible for any default of restitution on your part. The cosigner is essentally applying for the very same thing you are--for you--on your behalf almost. Be good to your friend, parent, whoever has helped you and repay your loan on time.Happy holidays.


College loans without a cosigner?

Not a problem. Try wells fargo.


Can cosigner pay off debt without borrowers consent?

yes