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If I am a cosigner on a car loan and it gets repo is the owner of the car responsible for the remaining balance after it is auctioned or is it the cosigner's responsibility?
Both are responsible until paid in full. It will also be on both credit reports as well.
Is withdrawal a debit or credit balance?
it is a debit balance because it decreases owner's equity, which has credit balance.
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.
How do you know if you are a cosigner or co owner?
A "Cosigner" is a "Co-owner." Cobuyers and buyers are equally responsible for the note they signed.
Will the credit of the co-owner but not cosigner of your car be affected if you file bankruptcy?
No, because the co-signor is not file a bankruptcy with you and the creditor will go after the co-signor instead of you.
If I am a cosigner on a car loan and it gets repo is the owner of the car responsible for the remaining balance after it is auctioned or is it the cosigner's responsibility?
Both are responsible until paid in full. It will also be on both credit reports as well.
What is a primary owner and cosigner of a car?
A primary owner of a car is the individual whose name is listed as the main owner on the vehicle's title and registration, holding legal responsibility for the vehicle. A cosigner, on the other hand, is someone who signs the loan agreement alongside the primary owner, providing additional financial security to the lender. The cosigner typically helps the primary owner secure financing, especially if they have a limited credit history or lower credit score. In case of default, the cosigner is also responsible for the loan repayment.
Is withdrawal a debit or credit balance?
it is a debit balance because it decreases owner's equity, which has credit balance.
Is withdrawals a debit or a credit?
it is a debit balance because it decreases owner's equity, which has credit balance.
Who owns the house the owner or co signer?
Check your title paperwork. If the cosigner is listed on the title then you are co owners. If the cosigner is not listed on the title then you are the only owner. More times than not a cosigner is also listed on the title.
Who do you contact for a cosigner information to show up on their credit report?
You don't have to contact anyone. The lender will report information on the primary borrower, cosigner, joint owner, guarantor, and other relationships.
Does owner's capital account have a debit or credit balance?
Debit
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.
How do you know if you are a cosigner or co owner?
A "Cosigner" is a "Co-owner." Cobuyers and buyers are equally responsible for the note they signed.
Is owner capital credit or debit?
owners capital is liability of business that's why it is credit balance.
Can a person take a car out of state without permission of cosigner?
No they can not because then the cosinger can report te car being stolen. YES YOU CAN AS LONG AS YOU ARE THE PRIMARY OWNER OF THE VEHICLE. THE COSIGNER IS JUST A PERSON WHO HAS MADE AN AGREEMENT WITH THE BANK THAT IF FOR SOME REASON YOU SHOULD DEFAULT ON THE LOAN THE BANK CAN PURSUE THE COSIGNER. BECAUSE THE COSIGNER PRESUMABLY HAS BETTER CREDIT AND STRONGER WORK HISTORY, THUS THE ABILITY TO REPAY THE LOAN. OF COURSE YOU HAVE TO BE OF AGE AND FOLLOW ALL OF THE LAWS WHEN DRIVING.
Will the credit of the co-owner but not cosigner of your car be affected if you file bankruptcy?
No, because the co-signor is not file a bankruptcy with you and the creditor will go after the co-signor instead of you.
