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Should you have your son pay his own private school loans that currently have you as a co signer?
Wiki User
∙ 16y ago
I sure would! He's the one that is benefitting from the loan, not you.
Wiki User
∙ 16y ago
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Can a cosigner get out of a rental agreement?
Not unless the lessor agrees to release the co-signer from the obligation and that agreement should be in writing.Not unless the lessor agrees to release the co-signer from the obligation and that agreement should be in writing.Not unless the lessor agrees to release the co-signer from the obligation and that agreement should be in writing.Not unless the lessor agrees to release the co-signer from the obligation and that agreement should be in writing.
How can a co signer with perfect credit help you get a mortgage loan when you have bad credit?
The purpose of a co-signer is to guaranty the loan will be repaid. The bank would approve a co-signer with perfect credit but the co-signer should be fully informed that they will guaranty the repayment of the loan. If the borrower with poor credit doesn't pay the co-signer must pay or their perfect credit will be ruined. If the co-signer has no ownership interest in the property they may end up paying for property they don't own.The purpose of a co-signer is to guaranty the loan will be repaid. The bank would approve a co-signer with perfect credit but the co-signer should be fully informed that they will guaranty the repayment of the loan. If the borrower with poor credit doesn't pay the co-signer must pay or their perfect credit will be ruined. If the co-signer has no ownership interest in the property they may end up paying for property they don't own.The purpose of a co-signer is to guaranty the loan will be repaid. The bank would approve a co-signer with perfect credit but the co-signer should be fully informed that they will guaranty the repayment of the loan. If the borrower with poor credit doesn't pay the co-signer must pay or their perfect credit will be ruined. If the co-signer has no ownership interest in the property they may end up paying for property they don't own.The purpose of a co-signer is to guaranty the loan will be repaid. The bank would approve a co-signer with perfect credit but the co-signer should be fully informed that they will guaranty the repayment of the loan. If the borrower with poor credit doesn't pay the co-signer must pay or their perfect credit will be ruined. If the co-signer has no ownership interest in the property they may end up paying for property they don't own.
When primary borrower files bankrupt how is cosigner affected?
The lender can go after the co-signer. If you are the co-signer you should consult with an attorney who can review the situation and explain your position.
Is a cosigner responsible for a car loan if the main borrower dies?
Yes. The co-signer should negotiate a resolution as soon as possible. If the debt goes into default the co-signer's credit will be ruined. The co-signer should try to get the lender to take back the vehicle and negotiate the amount it will take to write off the debt. On the other hand, the co-signer could try to get title from the decedent's estate and then pay off the loan.
Does cosigner have a right to copy of contract written by the lender?
Yes. The co-signer should insist on having an original copy of the contract, and any other documents they signed, since they are a party to the contract and the provisions are legally binding on the co-signer.Yes. The co-signer should insist on having an original copy of the contract, and any other documents they signed, since they are a party to the contract and the provisions are legally binding on the co-signer.Yes. The co-signer should insist on having an original copy of the contract, and any other documents they signed, since they are a party to the contract and the provisions are legally binding on the co-signer.Yes. The co-signer should insist on having an original copy of the contract, and any other documents they signed, since they are a party to the contract and the provisions are legally binding on the co-signer.
How do you get a school private loan with bankruptcy on your credit report and without a co-signer?
One way is paying a fee to a third party organization that will provide the needed document and support.
Things A Student Should Consider Before Taking Out a Private Loan?
A private loan is an additional funding option available to students who have already exhausted their options in federal financial aid and scholarships. In many cases, the actual cost of attendance for students exceeds the amount of federal financial aid they receive. Especially if a student isn't working while in school, it can be difficult to make ends meet. Thus, there are many types of private student loans available, including those for students with poor or no credit. If a student is thinking about applying for a private loan, he or she should consider getting a co-signer, the amount needed to borrow and any other outstanding debts. Many financial institutions recommend that a student has a co-signer when applying for a private loan, as this can greatly help the student's chances of getting approved. Typically, the co-signer should be a parent or guardian, as the co-signer assumes responsibility of the loan in the event that the student defaults on repayment. Additionally, a co-signer can significantly increase the student's chances of getting a better interest rate. Many students do not have the necessary credit established in order to get a good deal on a private loan, but a co-signer can help. Students should also consider how much they need to borrow before applying for private loans. A private loan generally carries a higher interest rate than a federal student loan does, so it's important that the student doesn't borrow more than is necessary. A good estimate of the actual cost of attendance can usually be found through university websites. These resources help students to determine how much they should borrow with their private loans. Before applying for a private loan, students should also consider any other outstanding debts they have. Though this is a particularly important step before taking out any type of loan, it's essential to do when taking out a private loan that carries a higher interest rate. Students should tally their comprehensive debt from federal student loans and credit cards and should calculate the interest for each. This helps a student to make an informed decision about a private loan.
Where did Carroll Thompson the reggae signer go to school?
Reggae
Can a cosigner get out of a rental agreement?
Not unless the lessor agrees to release the co-signer from the obligation and that agreement should be in writing.Not unless the lessor agrees to release the co-signer from the obligation and that agreement should be in writing.Not unless the lessor agrees to release the co-signer from the obligation and that agreement should be in writing.Not unless the lessor agrees to release the co-signer from the obligation and that agreement should be in writing.
How will a co signer know if the bill is getting paid?
The loan will go into default and the co-signer will be notified by the lender since the co-signer is legally responsible for the loan, which is why the lender wanted a co-signer in the first place. The co-signer should try to arrange notice from the lender when a payment is late.
How can a co signer with perfect credit help you get a mortgage loan when you have bad credit?
The purpose of a co-signer is to guaranty the loan will be repaid. The bank would approve a co-signer with perfect credit but the co-signer should be fully informed that they will guaranty the repayment of the loan. If the borrower with poor credit doesn't pay the co-signer must pay or their perfect credit will be ruined. If the co-signer has no ownership interest in the property they may end up paying for property they don't own.The purpose of a co-signer is to guaranty the loan will be repaid. The bank would approve a co-signer with perfect credit but the co-signer should be fully informed that they will guaranty the repayment of the loan. If the borrower with poor credit doesn't pay the co-signer must pay or their perfect credit will be ruined. If the co-signer has no ownership interest in the property they may end up paying for property they don't own.The purpose of a co-signer is to guaranty the loan will be repaid. The bank would approve a co-signer with perfect credit but the co-signer should be fully informed that they will guaranty the repayment of the loan. If the borrower with poor credit doesn't pay the co-signer must pay or their perfect credit will be ruined. If the co-signer has no ownership interest in the property they may end up paying for property they don't own.The purpose of a co-signer is to guaranty the loan will be repaid. The bank would approve a co-signer with perfect credit but the co-signer should be fully informed that they will guaranty the repayment of the loan. If the borrower with poor credit doesn't pay the co-signer must pay or their perfect credit will be ruined. If the co-signer has no ownership interest in the property they may end up paying for property they don't own.
Can a 16yr. old lease a car with a co signer?
Currently no one under 25 can lease a car anywhere in the united states.
Does the co-signer for your auto loan have to live with you?
No. For the best results credit-wise, the co-signer of your loan should have a great credit record, however, they do not have to live with you.
When primary borrower files bankrupt how is cosigner affected?
The lender can go after the co-signer. If you are the co-signer you should consult with an attorney who can review the situation and explain your position.
Does a co-signer have rights to a vehicle that is being financed and payments are currently being made by the primary holder?
NO. As the cosigner, you are only guaranteeing the loan.
What European country did US fight against?
Nazi Germany (Tripartite Pact signer) Fascist Italy (Tripartite Pact signer) Slovakia (Tripartite Pact signer) Romania (Tripartite Pact signer) Hungary (Tripartite Pact signer) Yugoslavia (Tripartite Pact signer) Bulgaria (Tripartite Pact signer) Transylvania (Tripartite Pact signer) Croatia (Tripartite Pact signer)
Is a cosigner responsible for a car loan if the main borrower dies?
Yes. The co-signer should negotiate a resolution as soon as possible. If the debt goes into default the co-signer's credit will be ruined. The co-signer should try to get the lender to take back the vehicle and negotiate the amount it will take to write off the debt. On the other hand, the co-signer could try to get title from the decedent's estate and then pay off the loan.
