0
You were just wondering if a Cosigner responsible for tax on a cancellation of debt for taxes1099C?
Gravitysapple
No, I don't think you would ever be responsible for their taxes. You may be liable for their debt though... agreeably a different matter.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Is a cosigner responsible for overage miles?
A cosigner is responsible for anything the primary party does not pay.
If a car was voluntary repossessed and the cosigner was not notified is the cosigner still responsible?
Yes. If you signed the loan, you are still legally responsible for it.
Is the cosigner responsible for other debts beside the item such as house rental he has cosigned for?
A cosigner is only responsible for the items that he has cosigned for.
Is the spouse of a deceased cosigner responsible for the debt?
The ESTATE is responsible.
Is a cosigner responsible for damage done by the tenant?
Yes, the co-signer is responsible.
Is the cosigner of a vehicle responsible for the negligent operation of the vehicle?
No. A cosigner is just responsible for paying it off if the negligent driver wrecks it and and can't work to make the payments.
Does a cosigner have to have a job?
No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.
What responsibility does a cosigner on an apartment lease have?
a cosigner is a person who is responsible for the rest of the rent that you don't pay if u get evicted the person who signed as a cosigner will have to go to court
How do you know if you are a cosigner or co owner?
A "Cosigner" is a "Co-owner." Cobuyers and buyers are equally responsible for the note they signed.
If a primary borrower defaults on a loan and the cosigner sues them will that prevent the lender from being able to take action against the cosigner?
No. The cosigner will still be equally responsible for the debt
Is a cosigner on a credit card responsible after the primary dies?
Yes.
Is there a way for the cosigner to be removed as cosigner if primary owner defaults?
No. The purpose of requiring a co-signer is that in the case of a default by the primary borrower, the cosigner has agreed to be fully responsible for the loan. Therefore, if the borrower defaults, that's what you're there for if you're the cosigner.
