If the person the co signer was signing for died they would not be liable for the remaining amount due. Also the other way around if the cosigner dies then the car would be paid for after death, but there would probably be two different plans for that.
a loan not backed by a co-signer who agrees to cover the amount of the loan a person loan without assets to cover the loan amount a home equity loan a loan tkaen on a life insurance policy
Unless there is insurance to pay the loan the estate of the deceased will pay it. If there is no estate, the lender is out of luck.
One can get a loan for life insurance from a few locations. There are a few banks that will allow you to take out a loan using your life insurance payout as collateral.
Yes. If the signer defaults on the loan, then you, as the cosigner, would be liable.
No. A U. S. lender would require a co-signer who is local and subject to U. S. law. The purpose of requiring a co-signer is to make certain the loan will be paid in the case of a default by the primary borrower. A co-signer in Australia would be out of reach.No. A U. S. lender would require a co-signer who is local and subject to U. S. law. The purpose of requiring a co-signer is to make certain the loan will be paid in the case of a default by the primary borrower. A co-signer in Australia would be out of reach.No. A U. S. lender would require a co-signer who is local and subject to U. S. law. The purpose of requiring a co-signer is to make certain the loan will be paid in the case of a default by the primary borrower. A co-signer in Australia would be out of reach.No. A U. S. lender would require a co-signer who is local and subject to U. S. law. The purpose of requiring a co-signer is to make certain the loan will be paid in the case of a default by the primary borrower. A co-signer in Australia would be out of reach.
a loan not backed by a co-signer who agrees to cover the amount of the loan a person loan without assets to cover the loan amount a home equity loan a loan tkaen on a life insurance policy
a loan not backed by a co-signer who agrees to cover the amount of the loan a person loan without assets to cover the loan amount a home equity loan a loan tkaen on a life insurance policy
No. The co-signer would be responsible for paying the loan.No. The co-signer would be responsible for paying the loan.No. The co-signer would be responsible for paying the loan.No. The co-signer would be responsible for paying the loan.
Unless there is insurance to pay the loan the estate of the deceased will pay it. If there is no estate, the lender is out of luck.
One can get a loan for life insurance from a few locations. There are a few banks that will allow you to take out a loan using your life insurance payout as collateral.
A co signer is for the loan, they do not have any ownership in the car unless they are on the front of the title. If they just co signed for the loan, that lmeans they will pay for it if the owner does not. Even if they paid the entire loan, they still would not own the car. To transfer the car, they would have to either pay the loan off or get a loan in their name and you sell the car to them.
It's not necessary for a waiver as the co-signer would not be responsible. A co-signer is only responsible for repayment of the loan, if the primary borrower defaults.
Generally, no. The co-signer would become solely responsible for paying the loan.Generally, no. The co-signer would become solely responsible for paying the loan.Generally, no. The co-signer would become solely responsible for paying the loan.Generally, no. The co-signer would become solely responsible for paying the loan.
If the primary signer defaults the co-signer will become responsible for paying the loan.
No the co-signer is on for the life of the loan
No, its not necessary. However, it would probably be a good idea to have some life insurance regardless.
You should sue the co-signer. Even though you may be the primary person obligated to pay the loan, he is responsible to you for totalling your car. You still have to pay the loan company because you took out the loan; but the co-signer caused the loss. You won't be able to force the loan company to take payments from him though. Getting him to reimburse you will be your problem.