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Is there any help available for a co signer when the student defaults on a school loan?
Victoriaann256
No. You are responsible for the debt if the primary holder is not paying their debt.
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∙ 14y ago
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What if the primary signer on a loan defaults?
If the primary signer defaults the co-signer will become responsible for paying the loan.
Can you sign car that has a loan on it to the primary buyer and not be responsible for it if he defaults?
If you are the co signer, then it is automatically your responsibility if he defaults
What recourse does co signer have if the primary debtor defaults?
The co-signer can sue the primary debtor for reimbursement of what the co-signer pays the creditor.
What is an individual who agrees to repay a loan or consumer debt if the borrower defaults?
Co-Signer
Who is the person that agrees to take responsibility for repayment of a loan if the borrower defaults?
The co-signer.
What is the difference between co signer and co borrower?
A co-borrower has an ownership interest in the property. A co-signer guarantees the repayment of the loan although they do not own the property. If the primary borrower defaults, the lender can (and will) go after the co-signer for payment. The loan will usually not show up on his credit report, unless the borrower defaults.
What is the diffrece between the primary borrower and the co signer?
The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.The primary borrower and the co-signer are equally responsible for paying the loan. if the primary defaults, both their credit records will be ruined and the lender will go after the co-signer for payment. The difference is that the primary is generally the owner of the property and the co-signer is agreeing to pay a debt for property they do not own.
What happens if co-signer of a student loan dies?
The other signer is responsible.
Can a person who has filed for bankruptcy be a co signer on a lease?
That would be unlikely since a co-signer guarantees the loan will be repaid if the primary borrower defaults. A bankruptcy would indicate the proposed co-signer has no money, owes a large debt and cannot pay their own way.That would be unlikely since a co-signer guarantees the loan will be repaid if the primary borrower defaults. A bankruptcy would indicate the proposed co-signer has no money, owes a large debt and cannot pay their own way.That would be unlikely since a co-signer guarantees the loan will be repaid if the primary borrower defaults. A bankruptcy would indicate the proposed co-signer has no money, owes a large debt and cannot pay their own way.That would be unlikely since a co-signer guarantees the loan will be repaid if the primary borrower defaults. A bankruptcy would indicate the proposed co-signer has no money, owes a large debt and cannot pay their own way.
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.
Student loan signer?
That's the borrower.
Can a co-signer on a student loan get that discharged?
No.
