I know this isn't an answer, but I thought I would let you know that you aren't alone.
I found out today that my Mom had been denied for student loans, and she is the only person I have to cosign. It feels like the end of the world. It feels like my dreams of going to college are crumbling before my feet. I'm becoming a part of a statistic.
I think the only thing we can do is pray. Pray that somone somewhere will help us. And that maybe right now this seems like the most messed up thing and that this shouldn't be happening, but theres got to be a reason.
Knowing that there must be a reason is the only thing that's keeping me going.
I hope and pray that you can find help too. :D
A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.
No, minors cannot legally enter into financial agreements.
You can apply for a student grant (financial aid) but you have to qualify to be able to receive the grant and you cannot be in default on your loan.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
In the United States, you cannot receive Federal student aid if you are in default on a Federal student loan. If you have defaulted on a private loan, this will depend upon where you are trying to get additional student aid from.
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
The cosigner issue here is misplaced. The liability of a cosigner comes into play if the primary owner of the car cannot make payments. In the case presented, the primary borrower is doing fine. There is nothing a cosigner can do to take a car away.
U.S.Mail or Fax and a Notary Public is all you need.
A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.
The contract cannot be changed without refinancing, your cosighner is stuck with it unless the loan is paid off one way or another.
Generally, student loan money can only be used for COA (cost of attendance) related expenses, including housing. These expenses include things like tuition, books, room & board. If the travel is not directly related to your schooling, then student loan money cannot be used for travel expenses. There's some good information on student loans here http://www.financialaidfinder.com/financial-aid/seeking-financial-aid/student-loans/
Both because a teacher cannot teach without a student and a student cannot learn without a teacher.
Unless you have a specific repayment plan that the collection agency agreed to, there is no legal reason that cannot sue the cosigner.
A student cannot be forced to learn.
When you cosign for an automobile purchase you are typically liable for an automobile repossession in Michigan. The reason why is because you are responsible for car payments as a cosigner if the primary debtor cannot pay.
If you have to file a claim on that child they can request that you 'prove' they are a full time student. I had to do this periodically without a claim while our daughter was in college. And if you cannot prove it that child will have no coverage.
A cosigner cannot simply remove their name from the contract. The cosigner is obligated equally with the primary borrower until the loan is paid. A cosigner's credit history will be affected, hopefully in a positive way.
It depends on how the agreement is worded, but usually - NO. The co-signor is NOT the co-owner but is only someone whom the lender has qualified to act as a financial "back up" to the purchaser. This is not to say that the co-signor cannot become the car's owner but would have to go through the qualification process that would qualify them.
In most cases. yes.
If the father does not request a DNA test, the mother holds all of the parental responsibility and rights. The mother cannot request child support. The father cannot request custody or visitation.
No a landlord cannot request tax returns Anyone can request them from you. You can provide them to anyone you want. They can not get them from anyone else.
Because he cannot.
If you want to qualify for financial aid, you cannot be in default of your loans or be at your aggragate limit. Otherwise, you'd have to pay off loans or pay out of pocket
You cannot reverse an ignored request. Instead you can ask your friend to resend the request or send one of your own.
A minor cannot enter into a legal contract. Any loan they are a party to is invalid.