the co-signer
It will be easy to sue them if you had it in writing that they were responsible for the loan. If not, it will be difficult to prove since the loan is in your name.
The best and the easiest way to get out of a loan is to PAY IT OFF ! You signed that you would be responsible for the debt !!!!!!
If responsible for the loan- yes.If responsible for the loan- yes.If responsible for the loan- yes.If responsible for the loan- yes.
In most cases a waiver has to be signed that states the spouse will not be responsible. This is especially true for credit cards. If you have signed a statement in contract that states in case of death... it depends on what it states; responsible or not responsible, again it is all in the fine print. There may be a waiver on a loan if the spouse had no knowledge of said loan if loan was signed into being prior to a wedding date.
Your father's estate would be, not you personally.
No if you send a copy af the death certifact to the loan company they should should stop collecting on it .
There is no STATUTE of limitations on any loan. You will always be responsible for paying it back. Statutes of limitations is only for laws.
I live in Illinois and when my spouse passed away 7/31/08 I was not responsible. I just called them showed them the death certificate and had them pick it up.
A cosigner service for a personal loan is when someone with a good credit history agrees to be responsible for the loan if the borrower is unable to make payments. This can help you secure a loan by providing the lender with additional assurance that the loan will be repaid, especially if you have a limited credit history or poor credit score.
The question doesn't make sense. If your family member gave you a loan, what "banking institution" was involved? Why did the person you took a loan out from have to pay off anything?If you took out a loan, yes you're responsible for paying it back.
In general, if the spouse's name is on the car loan agreement, they are responsible for the loan. If the loan is in one spouse's name only, that spouse is solely responsible for the loan.
The estate of the person who dies is responsible for paying off the debt.