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Are a primary borrower and a secondary borrower on a car loan equally responsible for the loan?
Yes, the cosigner/co-borrower has the same legal responsibility to repay the debt/loan as does the primary borrower. If the primary defaults the creditor can attempt to collect from the co-borrower before the primary borrower.
Can a co-borrower transition to become the primary borrower on a loan?
Yes, a co-borrower can typically transition to become the primary borrower on a loan by refinancing the loan in their name.
Who gets garnished for student loan The borrower or the cosigner?
the borrower
Can a cosigner remove the primary borrower from a loan agreement?
No, a cosigner cannot remove the primary borrower from a loan agreement. The primary borrower is responsible for the loan, and the cosigner is only responsible if the primary borrower fails to pay.
What happens when a borrower pays of a pawnshop loan?
A personal item is returned to the borrower
Can a mortgage borrower apply for court foreclosure?
No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.
Are a primary borrower and a secondary borrower on a car loan equally responsible for the loan?
Yes, the cosigner/co-borrower has the same legal responsibility to repay the debt/loan as does the primary borrower. If the primary defaults the creditor can attempt to collect from the co-borrower before the primary borrower.
Can a co-borrower transition to become the primary borrower on a loan?
Yes, a co-borrower can typically transition to become the primary borrower on a loan by refinancing the loan in their name.
Can a co borrower sell car without borrower consent?
no
Who gets garnished for student loan The borrower or the cosigner?
the borrower
Who is held responsible for the loan on a repossessed vehicle?
The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.
What is ordinary time in simple interest?
Any time that the borrower and lender agree to.Any time that the borrower and lender agree to.Any time that the borrower and lender agree to.Any time that the borrower and lender agree to.
What is the borrower failed to pay is co borrower liable for it?
Yes. Completely.
When was The Borrower created?
The Borrowers was created in 1952.
Can a cosigner remove the primary borrower from a loan agreement?
No, a cosigner cannot remove the primary borrower from a loan agreement. The primary borrower is responsible for the loan, and the cosigner is only responsible if the primary borrower fails to pay.
What happens when a borrower pays of a pawnshop loan?
A personal item is returned to the borrower
Can a cosigner register a car on behalf of the primary borrower?
Yes, a cosigner can register a car on behalf of the primary borrower if the primary borrower authorizes them to do so.
