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What can be done to the person you cosigned for if they don't pay?
Wiki User
∙ 13y ago
Very little, you will have to pay.
Wiki User
∙ 13y ago
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How can you get out of cosigner even through you already cosigned?
Pay the loan off and then collect payments from the person you cosigned for.
If a person cosigned for you and their name is on the title are you required to pay them back?
only if you owe them money
When someone is a cosigner on the loan of your car does that mean he owns any part of it?
when you cosign on any kind of loan you dont have to pay anything unless the person you cosigned for does not pay the loan, then you are responsible for that the remaining balance on the loan
How does a cosigned loan work?
If the person who the loan is for doesn't pay, the co-signer has to pay if thay don't pay it will afeect their credit also.
You co-signed they are coming after you for the debt What can you do?
You cosigned that you would pay the debt if the other person is late or defaults. That means you have to pay the debt if the other person is late or defaults.
Can a lien be put on my property if im a senior citizen without going to court 1st for cosigned car?
Unfortunately if you cosigned a loan that means you were willing to pay the loan if the other signer defaults and if that happen they will go by any means to collect that money that you "cosigned/said" you would cover if the other person defaults. I would go after that person that you cosigned for if it has gone this far.
If you cosighed on a motorcycle it got repoed am i responsible?
If you cosigned for the note, you are saying that if the person who took out the note does not pay you will. I am surprised the lender did not come after you prior to repo.
Can you sue some one if you cosigned a credit card for them and they did not pay?
Yes.
If the person you cosigned for refuses to pay on the car loan after a year and a half can the cosigner take over payments and get possession of the car?
Only if they are a joint title holder of the vehicle.
Do you have to carry car insurance on a car you cosigned for?
No, BUT the person driving it does and if they fail to do so and the car is totaled then you will both be on the hook to pay off the loan...so its something to think about
If i cosigned on a loan then the person goes bankrupt then they default on a bankrupt what happen?
You signed to guarantee the loan. That means that you guaranteed to pay the loan if something went wrong. Something went wrong so you get to pay the loan.
How do you get your name off a credit card that you cosigned for 2 years ago if you cannot find the person you cosigned for?
Contact the credit card company and explain your circumstances. Whatever the problem, you are 100% responsible for the debt that person has incurred. Cancel their credit card (should have been done immediately) and pay off their debt! If you are fortunate enough to have your own credit cards after all this and have a good credit rating and you are paying off this person's debt then your credit rating will not be altered in any way. DON'T COSIGN FOR ANYONE! Marcy
