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no such thing! sorry! by cosigning a loan you are gaurenteeing payment therefore you are responsible for the loan if the original signer defaults every late payment and every on-time payment effects both parties either positively or negatively

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18y ago

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Can you cosign without your name being on the car just the car loan?

yes


What does it mean to cosign on a car loan and what are the responsibilities and implications of being a cosigner?

Cosigning on a car loan means agreeing to be responsible for the loan if the primary borrower fails to make payments. As a cosigner, you are equally liable for the loan, and your credit score could be affected if payments are missed. It's important to understand the risks and responsibilities before agreeing to cosign on a loan.


How does being a cosigner affect your debt-to-income ratio?

Being a cosigner can increase your debt-to-income ratio because the debt you cosign for is considered your responsibility, even if you are not the primary borrower. This can impact your ability to qualify for loans or credit in the future.


Are you responsible for the credit card debt that the primary card holder your ex husband borrowed six years after divorce?

There is a big difference between being responsible for something and being legally liable for it. Certainly, in your question, you would not be responsible. Whether you have legal liability depends on whether the account in question is a joint, or co-signed account. If it is, you are liable for the debt until it is paid in full. You need to find out the exact status of this debt. The creditor may be able to tell you. Your liability will be determined by the original contract that was signed when the account was opened and has no bearing on your marital status.


Can a seller of a home cosign for the buyer?

Sure. It may have to be disclosed in some of the closing or mortgage documents, but it is fairly common. Frequently done in various financing arrangements where owner financing is being done. There are certainly many possible hazards in any advanced or complex financing - especially when your selling the property and remaining liable for the loan that the buyer is getting, all linked to the house you won't be owning. Yes, you'll get the money from the loan, but, if he doesn't make payments, you could NOT own or occupy the property (or even have a lot of recourse), but be responsible for paying for it.

Related Questions

Can you cosign without your name being on the car just the car loan?

yes


What does it mean to be liable for something?

To be liable for something means to be legally responsible or accountable for it. This could involve being responsible for a debt, an injury caused by negligence, or any other legal obligation. Being liable can lead to legal consequences if the responsibility is not met.


Can you legally represent someone in court without being a lawyer?

No, in most cases, you cannot legally represent someone in court without being a lawyer.


What does it mean to cosign on a car loan and what are the responsibilities and implications of being a cosigner?

Cosigning on a car loan means agreeing to be responsible for the loan if the primary borrower fails to make payments. As a cosigner, you are equally liable for the loan, and your credit score could be affected if payments are missed. It's important to understand the risks and responsibilities before agreeing to cosign on a loan.


How can you assist someone for example a sibling in obtaining a loan without being legally liable if the loan should ever default?

The only way is for you to become a guarantor. You are still resposible if they default. I am assuming that you want to help. But, if you are not willing to go that far out on the limb, why would the loan company?


Can a 17 year old move out without being pregnant legally in Georgia?

no idia


What is software that is legally protected against copying or being used without paying for it is .?

copyrighted


Being civilly liable means a server or seller of alcohol?

as a server or seller of alcohol, being civilly liable means?


What is De facto corporation?

One that serves a function without being officially or legally established.


Can someone file an affidavit of marriage without being legally married?

You would becommitting perjury.


Can a 17-year-old legally move out of their parents' house without being emancipated in tx?

No.


Is there anywhere where a 16 year old can get married legally without parnetal concent and without being pregnant?

Ireland. And I believe you have to be a citizen.