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What legal options does a cosigner havewhen making a oral agreementt?
Wiki User
∙ 10y ago
Oral agreement makes no difference to written since unenforceable, essentially loan is your in most states, other person only gets credit for payments made on time
Wiki User
∙ 10y ago
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Can a cosigner in California take possession of a vehicle if the primary borrower is not making the payments in Georgia?
Only if the cosigner is also named on the vehicle title.
Does the credit of the cosigner gets affected if car is not paid?
Oh yes it does. That person put their credit on the line when they signed the contract making me a cosigner.
If the cosigner is on the title can they take vehicle if person is not making the payments?
Yes..... I did
If you are making sporadic payments to a collection agency and they cash them can they still sue the cosigner?
Unless you have a specific repayment plan that the collection agency agreed to, there is no legal reason that cannot sue the cosigner.
Can the cosigner of a motorbike loan take possession of the bike if the primary borrower isn't making payments?
yes
If your cosigner defaults on other loans but you are making your payments can they repossess your vehicle?
No. You are the primary borrower and are honoring your financial obligation.
If you have a cosigner on a vechicle can they take your vehicle away because he is mad at you?
Yes if his anger is due to your not making payments. Otherwise NO.
Can someone garnish a cosigner for a car and garnish the primary also?
In the State of Texas, the answer would be "YES" as both parties signed for the car loan and both are responsible for the balance due. I was the primary signor but the cosigner had the car and was making the payments. Then she stopped making payments after owning the car for 3 years and the car was repossessed.
Can a cosigner let a lender foreclose on a house instead of making payments when the primary borrower has defaulted?
Yes, but the cosigner will still be legally responsible for any outstanding fees, penalties, deficiencies and so forth that may occur due to the foreclosure. The cosigner's credit will also be significantly damaged by the foreclosure and any other action by the lender.
Is the cosigner the only one responsible on the loan?
The primary borrower is responsible for making the payments and adhering to the terms of the lending contract. The cosigner is legally obligated only if the primary borrower defaults on the lending agreement or files bankruptcy (chapter 7).
EX wife not making car payments. I'm the cosigner and she won't give me the car back. what should I do?
You should contact your finance company to see what options are available. If they are not able to work with you to remove you from the loan, you may need to consult a lawyer. In the meantime, you should make the payments to preserve your credit.
What are some options for making a payment to the IRS?
Some options for making a payment to the IRS can be found on their website. One has the options of paying by debit or credit card, making an electronic funds transfer or by check or money order.
