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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

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21y ago

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Related Questions

Is the spouse of a deceased cosigner responsible for the debt?

The ESTATE is responsible.


Is a cosigner responsible for overage miles?

A cosigner is responsible for anything the primary party does not pay.


Can a cosigner remove the primary borrower from a loan agreement?

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.


Can a cosigner register a car?

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.


Is a cosigner on a credit card responsible after the primary dies?

Yes.


When the cosigner dies is the spouse responsible for a repossion that she did not cosign for?

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.


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.


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.


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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.


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Is the cosigner the only one responsible on the loan?

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