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What is cosigned?

Updated: 6/16/2022
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Wiki User

8y ago

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A cosigner is the person who agrees to pay off the full balance of the loan if the primary borrower fails to pay. A cosigner signs the loan documents and guarantees payment of the loan even if they have no ownership in the property covered by the loan.

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Cassandre Gibson

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1y ago
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Q: What is cosigned?
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Related questions

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.


How can you get your name off of a car note you have cosigned on?

you and the party you cosigned have to talk to who you have the note with and they should be able to help you out


Is the cosigner responsible for other debts beside the item such as house rental he has cosigned for?

A cosigner is only responsible for the items that he has cosigned for.


How can you sue the person you cosigned for?

if you are from 'merica


Someone cosigned a loan for me and I since lost my job can this person file suit for the entire loan or just what she cosigned for?

No, you would have to redo the loan.


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 get married are you responsible for the loan your spouse cosigned for their sibling?

No.


Can a cosigned car be taken out of state of Washington?

yes it can


Can you sue some one if you cosigned a credit card for them and they did not pay?

Yes.


What can be done to the person you cosigned for if they don't pay?

Very little, you will have to pay.


Can you put a lien on the home of a creditor's parent?

Only if the parents cosigned the note.


Can your federal tax refund be taken if you cosigned for a truck that was repossessed?

Legally, YES.