Debbie, I'm sorry that you lost your brother. Your parents are responsible for the balance due on the bike UNLESS there was life ins. on the loan to cover it. Their best option is to (borrow the money to) PAYOFF the loan NOW. Avoid any more interest and/or FEES. Next option.. MAKE AN OFFER !! Have the cash ready when you make it.Maybe $2000???? Good Luck
The ESTATE is responsible.
A cosigner is responsible for anything the primary party does not pay.
No, a cosigner cannot remove the primary borrower from a loan agreement. The primary borrower is responsible for the loan, and the cosigner is only responsible if the primary borrower fails to pay.
Yes, a cosigner can register a car, but they are not the primary owner of the vehicle. The cosigner is responsible for the loan if the primary owner fails to make payments.
Yes.
The spouse is not responsible and should not have this on her credit. But the estate of the deceased will still be responsible for the debt.
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.
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.
No. The cosigner will still be equally responsible for the debt
Yes, a Home Equity Line of Credit (HELOC) can be obtained with a cosigner. The cosigner is equally responsible for repaying the loan if the primary borrower defaults.
Yes, it is possible to have a cosigner on a home equity loan. The cosigner agrees to be responsible for the loan if the primary borrower fails to make payments.
The primary borrower is responsible for making the payments and adhering to the terms of the lending contract. The cosigner is legally obligated only if the primary borrower defaults on the lending agreement or files bankruptcy (chapter 7).