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What else can I help you with?
How can we get out of a cosign?
The only way is to pay off the debt. That was the lender's purpose for having you co-sign.
Can your husband cosign on someone's home without your knowledge?
Yes. And if he does he will become equally responsible for paying the mortgage if the primary mortgagor defaults on their mortgage payments. The bank will go after him for 100% of the debt.
Can my girlfriend cosign for me on a loan or financial agreement?
Yes, your girlfriend can cosign for you on a loan or financial agreement, which means she is agreeing to be responsible for the debt if you are unable to pay.
How does cosigning for an auto loan affect your ability to get your own auto loan?
Never cosign a loan. While I agree that one should NOT cosign. cosigning can hurt or help. Remember that if they do not pay you have to. Cosigning will affect your credit and count towards your debt to income ratio and show as an open joint auto loan. You might be turned down to get your own auto loan without a cosigner if you cosign.
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.
When you cosign for someone how long are you required to be their cosigner?
For the length of the contract you sign. If you cosign on a 3 yr loan, you are responsible for the debt for 3 years.
How can we get out of a cosign?
The only way is to pay off the debt. That was the lender's purpose for having you co-sign.
Can your husband cosign on someone's home without your knowledge?
Yes. And if he does he will become equally responsible for paying the mortgage if the primary mortgagor defaults on their mortgage payments. The bank will go after him for 100% of the debt.
Can my girlfriend cosign for me on a loan or financial agreement?
Yes, your girlfriend can cosign for you on a loan or financial agreement, which means she is agreeing to be responsible for the debt if you are unable to pay.
How does cosigning for an auto loan affect your ability to get your own auto loan?
Never cosign a loan. While I agree that one should NOT cosign. cosigning can hurt or help. Remember that if they do not pay you have to. Cosigning will affect your credit and count towards your debt to income ratio and show as an open joint auto loan. You might be turned down to get your own auto loan without a cosigner if you cosign.
Where can someone get advice about eliminating debt?
Someone can obtain advice about eliminating debt by visiting any branch of bank or credit union and having a meeting with the debt lawyer. The debt lawyer can offer great advice and plans on how to remove debt.
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.
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.
Due to Medical bills and credit card debt you may have to declare bankruptcy so can you still cosign for your children's college government loans as you have been doing so far?
If they'll accept your co-signature as having any value, sure.
Does a cosigner have to have a good credit rating to cosign?
Yes, that is the main purpose of having a cosigner. The person is accepting equal resposibility for repayment of the debt if the primary borrower should default. Therefore a cosigner needs to the have acceptable financial status as required by the lender.
How do you stop relative from running up credit card debt?
You would have to unlawfully detain said relative. Also helpful to not cosign for people.
Where should one go to for Credit Card Debt Solution help?
Debt dot org is an organization dedicated to help people with their credit card debt. They do this by helping you with a debt settlement which allows people to settle without having to pay their debt in full.
