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What would the responsibilities be for a co-signer if you have an accident but have full coverage and up to date payments on the car?
Wiki User
∙ 19y ago
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Wiki User
∙ 19y ago
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What are the benefits of a cosigner?
A cosigner basically is a guarantor for the repayment of a loan or value and serves as cosigner of the debt. If the debtor fails to make payments or defaults, the cosigner is obligated to pay off the debt. No benefits for the cosigner, but cosigner benefits the debtor.
What is the main difference between automobile medical payments coverage and homeowners medical payments coverage?
Medical payments on your car generally covers expense to yourself and / or passengers in the event of an accident where you're at fault. Medical payments on a home policy will pay for people who are injured in your house - but it won't cover the homeowner or other residents of the house. http://www.coloradosbestinsurance.com
Can the cosigner sell the house if his name is not on the deed and the primary borrower has missed 3 payments?
No. If you are not on the deed, you can't sell the property. The only "right" you have as a cosigner is the obligation to make the payments.
How can a person get a no money down mortgage if they have bad credit?
This is a very unlikely scenario. Firstly, the individual must attempt to clean up their credit by raising their credit score- or by having a cosigner who is willing to accept all responsibilities of late payments and non-payments.
Can the cosigner sell the home if payments are not being made?
Absolutely not!
What are the benefits of cosigning?
A cosigner basically is a guarantor for the repayment of a loan or value and serves as cosigner of the debt. If the debtor fails to make payments or defaults, the cosigner is obligated to pay off the debt. No benefits for the cosigner, but cosigner benefits the debtor.
Can a cosigner help your credit?
from what i know when you sign on a cosigner you hand your item to them so if you make good payments it builds their credit if you fail to make payments it hurts their credit but it is a good way to start.
Can prompt payments help increase a cosigner's credit score?
yes
If the cosigner is on the title can they take vehicle if person is not making the payments?
Yes..... I did
Is insurance company still liable for medical payments even you no longer carry that insurance?
The insurance should cover an accident while it was in force. If you had insurance 2 months ago and the accident happened 2 months ago, coverages should apply. If the accident happened today and the coverage stopped 2 months ago, there should not be coverage.
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.
Can a cosigner take away your car even though payments are not delinquent?
No. Unless the cosigner is also a title holder they have no legal rights to the vehicle.
