Improving Your Credit Rating
You were a cosigner on something and now owe the remaining debt can you sue if the other person is in another state?
Yes you can, but it is a little harder to catch them. File in
your state and have them served to appear in court. It is always
best to consult an attorney for the best advice.
What are the rights of a cosigner?
A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.
Asked in Apartments and Home Rentals
What responsibility does a cosigner on an apartment lease have?
Can you be a co-signer with no job?
You can, but the more likely scenario is that you will be listed as the primary and the person who can pay will be the cosigner to secure the loan. If you are hoping to secure the loan for another party as their cosigner, it is not likely to happen. Unless you are fabulously wealthy, and can provide evidence of this to the lender, you will not be accepted as a cosigner.
Asked in Personal Finance, Loans, Mortgages
If we have bad credit will a cosigner help us get a mortgage?
If the cosigner is refusing to refinance or pay the auto loan off how could the primary person on the auto loan remove his or her name?
What legal recourse is there for the cosigner when the person that was cosigned for has defaulted on the loan?
The usual legal recourse for the cosigner when the person named as the primary on a loan has defaulted, is to make the payments on the loan. Then, the cosigner can take the person who defaulted to court to try and recoup some of the money they are out. If the loan was for a car, some states allow the cosigner to take possession of the car and sell it to recoup losses also.
Asked in Bankruptcy Law, Debt Responsibility
Are parents responsible for adult child's debt to an attorney?
Asked in Teen Dating
What does it mean for a person to be sacrificing their own will for another?
When someone is a cosigner on the loan of your car does that mean he owns any part of it?
What does cosigner mean?
Asked in Repossession, Co-signing
Does the credit of the cosigner gets affected if car is not paid?
Can a cosigner live in a different state than the borrower?
Asked in Co-signing, Skype, Horse Tack
Can a cosigner sign for one person at one place and also sign for someone different at another?
Yes. Be aware that the cosigner is the person whom the bank will go after 2nd if the primary signer defaults on payment. If this person cannot afford to have 2 different banks come after them, then they should not sign on 2 loans. So hopefully this consigner trusts both people to make their payments.