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Does a cosigner have any legal rights to sell your house if there has never been a missed payment or late payment?
No, a cosigner has no legal rights to the property unless their name is on the title or deed. A cosigner is accepting the responsibility of the debt if the primary borrower defaults; a co-buyer/borrower is a different matter entirely.
How long does a company have to inform a cosigner that the borrower is in default in payment?
It is their legal right to never inform you and simply allow your credit deteriorate. It is your job as the cosigner to make sure the contract is up-to-date.
If a lender does not provide a cosigner agreement am I still liable for the loan?
# I have never had to provide a cosigner agreement to someone who is cosigning a loan. I am talking about Tx, NY. and Kentucky. If you signed the same promissory note with the other person, then you are both responsible! CORRECTION: If you are speaking of the Notice to Cosigner below: Notice to Cosigner You are being asked to guarantee this debt. Think carefully before you do. If the borrower doesn't pay the debt, you will have to. Be sure you can afford to pay if you have to, and that you want to accept this responsibility. It is against the FTC rules and against the law not to provide have have a potential cosigner sign.
If a cosigner is forced to make payments on the loan because the borrower has defaulted can the car be confiscated from the borrower by the cosigner?
No. The car is not your property, nor do you have legal authority to sieze property. It would be considered grand theft. As a co-signer, you agreed to be just as legally liable for the debt as the borrower. That's why it's a good idea to NEVER co-sign ANYTHING.
When a car in Texas gets repossessed for failure of payment does the car company come after the main signer or the cosigner for paying off the rest of the loan?
Both. But in reality, they go after the money. If the primary is broke, doesn't have a job, homeless, whatever, the bank will go after the person with the money. Now aren't you glad that you co-signed? They'll first try to get the primary signer to pay the debt. If he can't, the company will hold the co-signer liable for it. A co-signer is just as legally liable for the debt as the primary signer. You know when it's a good idea to become a co-signer? Never.
Does a cosigner have any legal rights to sell your house if there has never been a missed payment or late payment?
No, a cosigner has no legal rights to the property unless their name is on the title or deed. A cosigner is accepting the responsibility of the debt if the primary borrower defaults; a co-buyer/borrower is a different matter entirely.
How long does a company have to inform a cosigner that the borrower is in default in payment?
It is their legal right to never inform you and simply allow your credit deteriorate. It is your job as the cosigner to make sure the contract is up-to-date.
Does a cosigner have rights to a vehicle?
No, a cosigner only has the legal obligation to pay the debt if the primary borrower defaults on the lending agreement.The exception to this would be if the cosigner is a joint title holder of the vehicle.COSINGER!Does a consignor have rights to the vehicle if the people who is buying the car never missed a payment?
If a lender does not provide a cosigner agreement am I still liable for the loan?
# I have never had to provide a cosigner agreement to someone who is cosigning a loan. I am talking about Tx, NY. and Kentucky. If you signed the same promissory note with the other person, then you are both responsible! CORRECTION: If you are speaking of the Notice to Cosigner below: Notice to Cosigner You are being asked to guarantee this debt. Think carefully before you do. If the borrower doesn't pay the debt, you will have to. Be sure you can afford to pay if you have to, and that you want to accept this responsibility. It is against the FTC rules and against the law not to provide have have a potential cosigner sign.
If a cosigner is forced to make payments on the loan because the borrower has defaulted can the car be confiscated from the borrower by the cosigner?
No. The car is not your property, nor do you have legal authority to sieze property. It would be considered grand theft. As a co-signer, you agreed to be just as legally liable for the debt as the borrower. That's why it's a good idea to NEVER co-sign ANYTHING.
Can a bank sell your overdraft debt if they never notified you about the debt and your address never changed?
Yes, in many states a bank can sell your overdraft debt to a collector if they never notified you about the debt and your address never changed.
Do you get notified if you're downvoted?
No i never get notified when anything is downvoted but use me as an experiment go downvote me and I'll tell you!
When a car in Texas gets repossessed for failure of payment does the car company come after the main signer or the cosigner for paying off the rest of the loan?
Both. But in reality, they go after the money. If the primary is broke, doesn't have a job, homeless, whatever, the bank will go after the person with the money. Now aren't you glad that you co-signed? They'll first try to get the primary signer to pay the debt. If he can't, the company will hold the co-signer liable for it. A co-signer is just as legally liable for the debt as the primary signer. You know when it's a good idea to become a co-signer? Never.
If a landlord loses the rent is renter still liable?
Are you saying that you paid the rent and then the landlord lost the payment? You would have to determine at which point the rent was lost. For instance, if the check never arrived in the mail and was not cashed, then it wasn't the fault of the landlord. If it is a personal check, then payment could be stopped and the check replaced, without a problem.
Can the borrower of a private student loan change the cosigner during the term of a loan or must she refinance to do that?
AnswerThe short answer is no, you can never change cosigner on a private student loan. If they die, however, it is transferred to you.
What if your husband died without a will your house and vehicles are in both of your names and He had a credit card that I never applied for so are you still liable for the payment in the state of New?
Husband and wife share and own all things equally, including all debt.
You were notified the loan was not approved and you needed to return the car you never returned the car or had it registered in your name and it was never repossessed how do you get rid of it?
Return it to the dealer.
