Yes, for Breach of contract.
Since your ex-fiance cosigned on the loan, they are just as much obligated to the contract as you are. The only way they could get their name "off the loan" was, as you said, for the original borrower to obtain a new loan, in order pay off the original obligation. If this is not possible, then she is locked into the original contract.
Nope... You signed a binding contract.
I cosigned to help a friend purchase a used car. I later found out that the automobile was double the blue book suggested retail price. Now the signer and the car are missing. What can I do to get out of the contract.
You are legally bound to the lease and the obligations of the original contract as if it were your lease. You can take the person that you co-signed for to court for reimbursement.
A co-signer is fully legally responsible for the debt of the loan if the other person on the loan fails to pay as per the signed loan contract. All rights and responsibilities are in the contract.
No, when the parent cosigned the loan, they agreed to pay what the child couldn't. * Yes, the contract that was cosigned was between the borrower's and the lender. A cosigner has the legal right to file suit against a primary borrower for financial damages incurred due to the primary borrower defaulting on the contract.
You have your daughter fill out a new application with the landlord. If they will not accept her without a cosigner, and you still want to be off the contract, you wait until the contract expires and refuse to cosign again.
It depends on your debt to income ratio and the total amount finance of the other vehicle. If you can afford two cars, it should not be a problem.
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
Pay the loan off and then collect payments from the person you cosigned for.
A cosigner is only responsible for the items that he has cosigned for.
if you are from 'merica
The spouse cannot be held liable, however it is quite possible that the debt is no longer valid for collection. The person who cosigned the loan should find out what the SOL is in the state in which the contract was signed.
No, you would have to redo the loan.
The spouse would only be responsible if they lived in a community property state. Even then it is doubtful the contract would be valid if there were an attempt to collect the debt.
No. Y-THINK-Y * Ordinarily a cosigner would not be liable for anything other than the lending agreement. However, responsibilities incurred by all parties when a vehicle is under lease can be quite different than the purchasing a vehicle. It would be prudent for the cosigner to read the leasing contract very carefully and perhaps seek legal advice if they are unsure of the terms of the contract.
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 are talking about someone who cosigned for your loan filing bankruptcy, As long as you continue to make your payments on time, nothing will happen. If you are talking about someone you cosigned for taking bankruptcy, you may very well have to pay this loan. Contact the lender.
yes it can
I m pretty sure that the end date constitutes termination.
Also note...the ORIGINAL purchase order for the bike is not signed by us or the dealership, would this make it a legally binding contract if we only signed an application and not the purchase order????
No. Once a cosigner has signed the contract the only way they can be removed from the responsibility is a new agreement being made without the assistance of the original cosigner.