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What else can I help you with?
Is contract legal if only has a cosigner?
no...only two parties are required to make a contract, a cosigner is only required in special cases.
Can you remove A CO signer name after six months?
No, one can not remove a cosigner from any contract after 6 months. The cosigner will have to stay on the contract until the contract is paid.
If only one person has signed a contract and cosigner has not signed yet can you redo the contract so it's only under the cosigner's name so that you get a better APR?
Yes, you can rework the contract under only one name. Ask the dealer to rework the deal as long as the cosigner can qualify by themselves.
What are the requirements of an auto cosigner in Indiana?
An auto cosigner, in the state of Indiana, has to meet all of the requirements of the contract. In most cases the cosigner has the same obligations as the primary signer.
Does the credit of the cosigner gets affected if car is not paid?
Oh yes it does. That person put their credit on the line when they signed the contract making me a cosigner.
How can the cosigner be soley responsible for a repossesion of a car?
According to the law, a cosigner signs for someone else that they think might not pay off the load. The cosigner signs a contract agreeing to pay the loan off if the other person does not. He can be solely responsible becase he signs a contract promising to do so.
How long does a cosigner need to be on the contract?
untill its paid off * The other option is for the primary borrower to have the loan refinanced without the participation of the original cosigner.
How and where do you add a cosigner on a loan?
The cosigner must be present at the time the contract is signed. Before a cosigner is accepted by the lender him or her must meet the lender's requirements which will include a check of their complete credit history, employment status, etc.
Does breaking a lease hurt cosigners credit?
That is why the cosigner is there. To back up the contract if you bail.
What is the insurance liability for the cosigner of an auto loan?
None. A cosigner is entering into a legally binding contract to repay the debt if the primary borrower defaults on the lending agreement. The cosigner does not have any other obligation nor ownership rights to the property.
Can the new loan company force the cosigner to resign a new contract?
No, you have a contract and the only way to change it is for both parties to agree to the change.
If you are being sued for subrogation on a co-signed vehicle and need to file a cross-complaint against the primary borrower should you sue for damages breach or breach of contract?
The cosigner did not have a contract with the primary borrower, only with the lender; that being the case the cosigner would sue for his or her financial losses not for a breach of contract.
