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What else can I help you with?
Can you make a cosinger's agreement in which you obtain ownership if the other party misses his payment?
That's what they do at the bank, if the main person does not make the payments the cosigner is responsible to take it over.
If the cosigner is on the title can they take vehicle if person is not making the payments?
Yes..... I did
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.
Does the lender have to notify the cosigner if the person responsible does not make a payment?
In some states yes.
How can someone apply for CareCredit with a cosigner?
To apply for CareCredit with a cosigner, the primary applicant can fill out the application online or in person and provide the cosigner's information. The cosigner will need to agree to be financially responsible if the primary applicant is unable to make payments.
How can you get out of cosigner even through you already cosigned?
Pay the loan off and then collect payments from the person you cosigned for.
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.
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.
How can the cosigner of a car immediately have possession of it after it was repossessed by the bank?
When you cosign for anyone you are taking 100% responsibility for the payments on that car. If the person that gets the car doesn't keep their payments up it will be repossessed by the bank with an option for the cosigner to take over payments or sell the car and pay back the loan. Marcy
Do you have a right to take a car away if you are the cosigner?
Well if the original person that you co-signed with defaults on the payments and you are stuck with the payments, technically it is your vehicle and you can take the person to court and take control of the vehicle.
What types of loans allow a cosigner to help secure the financing?
Cosigner loans allow a secondary person to help secure financing by agreeing to be responsible for the loan if the primary borrower fails to make payments.
If you cosign an auto loan for someone and they refinance in one year and remove you from the loan how will that affect your credit assuming all payments are made on time?
The cosigner's credit isn't affected one ioto unless the person who was responsible for the loan payments defaulted, then and if the cosigner also defaulted. In other words, just being a cosigner does not affect ones credit ratings.
