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What else can I help you with?
If the lender doesn't want the car how would the co-signer take over payments?
The co-signer would make the payments as usual and at the end of the financing, the owner would sign the title over to the co-signer. That is probably not good because the owner would still be financially responsible for the vehicle. The co-signer should refinance it in their name.
If the sole owner of a business dies and there is an authorized signer on the account is he the owner of the funds?
No. The funds still belong to the company. The owner's will or estate will determine who owns the company.
Can a co-signer take the car away from the primary driver?
The automobile's title/registration determines the legal owner of the vehicle. Loan documents only concern the signer's legal responsibilities with the bank. If both names are on the title and you as primary are not paying on the loan then it is the responsibility of the co-signer to pay the loan. Since the the co-signer is still co-owner, and they are paying then the co-signer can take the car away. Remember this is affecting the co-signer's credit as well as your credit.
If I own a home with a co signer and file a chapter 7 will their credit be affected?
If the mortgage payments are still being made then no - they won't be, however - if you default on the mortgage payments then yes - they will go after the cosigner and if it is not paid their credit will be effected.
If you cosigned on a loan and voluntary have it returned can the company still come after you if the primary signer is making payments?
Don't understand what you mean by the phrase, "...voluntary have it returned..." However, as long as the primary indebted party is current in their payments there would be no reason for the loan company to contact you for payments.
From where can one purchase cars with bad credit?
Buying cars that are for sale by owner is a good option for those with bad credit. Some other options are lease assumptions and getting a co-signer on a car loan. A lease assumption is where the seller of a car is no longer able to make their payments and you basically take over the lease for them. The companies that do this still check credit, but it is generally not as strict. A co-signer would be someone with better credit who is willing to be responsible if payments are not made. They act as a backup to the lease.
Can you insure a car under a different name if you are still making payments?
Not enough information is given. The insurance is going to have to in the same name as the name of the owner on the loan papers. Who it is that actually MAKES the payments is immaterial to the insuror or the lender, just so long as the insurance policy is current.
If the co-signer is declared incompetent and the owner is not paying the payments is the co-signer's estate still responsible for the car loan?
That is an issue that would be decided by a judge, usually in probate court. The main issue would be the state of mind the person was in when the contract was signed. If the person was indeed incompetent and others had knowledge of the fact but did not intervene, the possibility of fraud could also become a factor in the situation.
Can someone still cosign for you if they are already financing on their own?
That depends on the lender and whether the proposed co-singer can afford both debts. The lender requires a co-signer so they will be responsible for the payments if you stop making them. Therefore, the lender looks at the co-signer as though they were borrowing the money.That depends on the lender and whether the proposed co-singer can afford both debts. The lender requires a co-signer so they will be responsible for the payments if you stop making them. Therefore, the lender looks at the co-signer as though they were borrowing the money.That depends on the lender and whether the proposed co-singer can afford both debts. The lender requires a co-signer so they will be responsible for the payments if you stop making them. Therefore, the lender looks at the co-signer as though they were borrowing the money.That depends on the lender and whether the proposed co-singer can afford both debts. The lender requires a co-signer so they will be responsible for the payments if you stop making them. Therefore, the lender looks at the co-signer as though they were borrowing the money.
If you are the co-owner of a car and will continue to pay on it how will filing for Chapter 7 affect the owner's credit?
It doesn't unless the bill doesn't get paid one way or the other. If you own the car and file for bankruptcy, the co-signer's credit does not change as long as the bill still gets paid. If the co-signer files, the owner's credit does not change unless the bill doesn't get paid.
What if the owner of the car passed away and the co signer is still living can the co signer change it to their name?
Co signing a loan does not provide any ownership rights. If the title is in the name of the decedent the ownership will pass to their heirs under their will or under the laws of intestacy. You may be able to obtain a court order if there is a balance on the loan and you have proof that you made payments. You may need to buy it from the heirs, if any. You should consult with an attorney who specializes in probate.
If you get a co-signer for a car will you own the car and will it still help establish your credit?
You will own the car once it is paid off and you can take the co-signer off once you pay it off. The co-signer is only someone the bank falls back onto to make the payments in case you dont. In turn if the co signer doesnt pay either it affects both yours and the co signers credit negatively.
