There will be no more lending. Debtors would have to declare financial insolvancy. Money might lose it's value actually.
Everyone will be happy and have lots of friends
If someone stops paying their credit card bill, the account will go into collections. Additional fees and interests will be added to the account. Based on the amount owed on the credit card bill, the lender may file suit.
Yes. They die when they do not get oxygen. This happens to everyone at some point when their life stops, either from natural causes, a disease, or an accident.
No but if something happens to the card-holder, like dieing or being arrested, the authorized signer will be made responsible.
when it stops paying in theaters
That is dependent on state laws and whether he stopped paying due to be denied access to the children, which happens in 60% of the cases.
In the US, no.
deposition
The other co-signer is responsible for paying the mortgage. If the mortgage goes into default both credit records will be ruined. Both signers are equally responsible for full payment. If one doesn't pay the other must or the bank will foreclose.
It stops at about 0.12 seconds.
It slows and then stops.
The only way to avoid paying a debt as a co-signer is to never be a co-signer. Once you sign you guaranty the loan will be paid if the primary borrower stops paying.The only way to avoid paying a debt as a co-signer is to never be a co-signer. Once you sign you guaranty the loan will be paid if the primary borrower stops paying.The only way to avoid paying a debt as a co-signer is to never be a co-signer. Once you sign you guaranty the loan will be paid if the primary borrower stops paying.The only way to avoid paying a debt as a co-signer is to never be a co-signer. Once you sign you guaranty the loan will be paid if the primary borrower stops paying.