the same things that happen to the primary signor. Judgements, garnishments, leins, ect. You are learning to hrad way about co-signing. Good Luck
Nope.
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.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
A cosigner of a vehicle loan is typically equally responsible for the debt if the primary borrower fails to make payments. However, the cosigner does not have ownership rights to the vehicle unless specifically stated in the loan agreement.
When purchasing a vehicle with a cosigner, the process involves the cosigner agreeing to take on responsibility for the loan if the primary borrower is unable to make payments. Both the primary borrower and the cosigner will need to provide financial information and undergo a credit check. If approved, the loan will be in both names, and both parties will be legally responsible for repayment.
Yes, the cosigner is typically liable for the vehicle if the primary borrower defaults and the vehicle is repossessed. The cosigner is equally responsible for the loan and may be pursued for any outstanding debts, fees, or deficiencies resulting from the repossession. It's important for cosigners to understand their obligations before agreeing to cosign a loan.
Nope.
you are still liable for that loan. the lender may decide to not accept the bankruptcy charge and go after you for the money.
will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle
The other co-owner or cosigner will be responsible for the debt.
If there are two individuals listed on the title of a vehicle as primary and joint, they are both responsible for the payment of the loan. If the primary defaults on the payment, the joint owner is responsible for payment. If both parties default, the vehicle can be repossessed.
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.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
Only if the cosigner is also named on the vehicle title.
A cosigner of a vehicle loan is typically equally responsible for the debt if the primary borrower fails to make payments. However, the cosigner does not have ownership rights to the vehicle unless specifically stated in the loan agreement.
Yes!
No, a cosigner has no legal rights to a vehicle unless his or her name appears on the vehicle title.