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What can be done if you are a cosigner and the primary does not make the payment the insurance has been cancelled and was charged with DUI drugs?
Wiki User
∙ 18y ago
Be more careful the next time you cosign for a loan. Sounds like you picked a real winner. You need to contact whoever holds the note on the vehicle.
Wiki User
∙ 18y ago
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Does accepting payment automatically bind cancelled car insurance?
No.
Can a home insurance policy be cancelled for non payment?
Yes. Non Payment of premium can cause a cancellation or non renewal of an insurance policy.
Can you get a new health insurance policy if your previous one was cancelled for non payment?
Yes
Who is liable if you are a cosigner and the primary driver has an accident and is charged with DUI?
As long as the driver has auto insurance on the vehicle there should be no problem, DUI or not. If there is no insurance on the vehicle you have a problem. In that case not only will you be liable for the damage to the vehicle you cosigned but you also may have liability for the injuries and damages for anyone they hit. You should be very careful about cosigning a loan with anyone. They will get payment from the one who is easiest to get payment from and that is you most likely.
Lapse in car insurance?
A lapse in your auto insurance is a time period for which you had or have no coverage. Either your policy expired and was not renewed on schedule meaning you missed your renewal payment or you missed a monthly payment and the policy was cancelled.
If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?
If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?
What is the difference in a cosigner and a guarantor?
A cosigner signs the debt agreement and the lender can demand payment from both the debtor and the cosigner. A guarantor does not sign and the lender needs to go through the debtor before demanding payment from a guarantor.
Does a cosigner have to have a job?
No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.
Where and how to get Condo Insurance If Condo Insurance cancel you?
First we would need to know why you were cancelled? As if you were cancelled for misrepresentation or fraud then you are in trouble, but if you were cancelled for non payment then just call up some other insurance companies and get quotes should be no issue, you may see a jump in your premium and thats unavoidable and you will have to live with it for around 3 years. If you were cancelled for underwriting reasons, inquire as to what that was so you can change it for the next insurance company. Condo insurance is very complex and although it is cheaper then most insurances for property it is the most difficult to adjust for a claim.
Can your car insurance policy be cancelled without notification?
Not necessarily. In most cases you have to be notified in writing as to when and why you're being cancelled. Most causes of cancellation are from non-payment of premiums, and somewhere in the bill it states "policy can be cancelled if premium if not paid by due date". Otherwise, most insurance companies are required by law to notify you.
What do you do if your auto insurance has been cancelled due to nonpayment with safeco?
Call the company, Offer to make your payment and request a re-instatement of your policy.
Why do it have to affect the co-signer when its your debt?
Because the cosigner guaranteed the to pay the loan if you do not. You fail to make a payment and the lender will be looking at the cosigner for the payment. You not only have an obligation to the lender who lent you the money but to the cosigner who also signed his name to the loan agreement.
