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When someone assumes your finance payments are you no longer responsible for the vehicle?
Wiki User
∙ 18y ago
IF you transfer the title and loan out of your name you are not responsible. IF NOT, and they don't make the payments, or have insurance on it, YOU are responsible for all aspects of the vehicle as you still OWN it. the name on the title & loan is the responsible party.
Wiki User
∙ 18y ago
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Can you finance a car for someone else?
Yes, but you are responsible for that loan until paid or transferred.
If you are a cosigner for someone and they default on the payments and the cosigner pays the debt off can you have the past due amount removed from your credit report?
No, you signed, you are equally responsible for the payments, you are also equally responsible for what happens with regard to default. This is why the lender permitted you to sign as a co-securer of the original loan.
If I were to Cosign for someone so they could get a car what happends What is my obligation then?
You could be held liable for the payments if the other party defaults. Your signing the contract is "insurance" for the lender that payments will be made, and they will consider you responsible if the primary party defaults.
Where can someone find a Finance Lancashire online?
Someone can find a Finance Lancashire online by visiting the website that offers this finance. The site "lancs ac" is where you can find a Finance Lancashire.
What does it mean when someone assumes presidency?
They become president!
Can someone lease a car and someone else make the payments?
Yes, all the bank cares about is that someone is making the payments.
A person has a car and cannot afford it anymore and wants his friend to have car and take over the payments. However his friend lives in a different state. What state does the insurance have to bein?
Which ever state the driver lives in. But more important, the friend needs to have the car titled in his name. I sell cars, and have for 15 years. I can't tell you how many times I've seen people's credit ruined by trusting someone else to make their payments. Guess who is responsible for late payments or a repo? Not to mention the friend being in a car accident and someone gets hurt. Get your friend to get his own finance company and sell the vehicle outright.
What is enterprenuer?
Someone who organizes a business venture and assumes the risk for it
If someone hasn't paid child support for 3 years due to drug abuse and is now willing to make payments on arrears and continue current payments will they serve time in jail?
I doubt they will to jail for non-payment of child support -especially if they are willing to make payments on arrears and continue current payments. Sounds like they are starting to do the responsible thing.
What is a high credit score rating?
A high credit score rating means someone is in good standing credit wise. They are prompt in payments and always pay payments in full. A good credit score is sought after by many people, because its a mark of a responsible person.
Can your husband cosign on someone's home without your knowledge?
Yes. And if he does he will become equally responsible for paying the mortgage if the primary mortgagor defaults on their mortgage payments. The bank will go after him for 100% of the debt.
How can one get someone to take over car payments?
The best place to go for advice about someone taking over car payments is the local bank. They will be able to offer advice about what to do if someone is no longer able to pay their car payments.
