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What else can I help you with?
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.
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.
If the cosigner is on the title can they take vehicle if person is not making the payments?
Yes..... I did
What if the primary borrower can not pay for the house can the cosigner let the house go?
If the primary borrower cannot make mortgage payments, the cosigner is also legally responsible for the loan and may need to step in to cover the payments to avoid foreclosure. If the cosigner lets the house go into foreclosure, it can significantly impact their credit score as well. Additionally, lenders may pursue the cosigner for any outstanding balance after the foreclosure, making it essential for both parties to communicate and explore options, such as selling the property or negotiating with the lender.
Can a cosigner take over a car loan if the primary borrower is unable to make payments?
Yes, a cosigner can take over a car loan if the primary borrower is unable to make payments. This means the cosigner becomes responsible for making the payments on the loan.
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 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.
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.
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.
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.
If the co-signer do not have enough credit after being the co-signer half year for a car loan because of the co-singer lose the job What will happen to the co-signer?
AnswerIf you have already been the cosigner on the loan, you will remain so until the loan is refinanced or paid in full. It doesn't matter if the cosigner has lost their job or not. As long as the person is making their payments, the cosigner isn't affected at all.Good luck job hunting cosigner! :)
