Yes, if you defaulted on the loan.
Yes, you can sue the borrower and receive a judgment if they defaulted on the loan. They can also sue the cosigner.
A cosigner can only sue if the primary borrower signed an agreement for the cosigner to pay the debt and then be reimbursed. The consignor can not sue if they, at their own liberty, decided to just pay the debt.
A minor cannot enter into a legal contract. Any loan they are a party to is invalid.
I'm almost afraid to ask....for what?You really aren't thinking you can sue the co-signer for your failure to pay your debt are you?You understand, the cosigner isn't there to protect the primary...he is required by and there to protect the lender!
In some cases a cosigner may not be needed for a student loan. Check with your college's financial aid office.
Yes, the cosigner can sue the primary borrower if they can prove the money paid on the exisitng loan was a loan to the borrower and the person had knowledge of and agreed to the action.
You should talk to your college's Financial Aid office, who will be able to direct you to potential loan sources which may not need a cosigner. Most students are not going to be able to get a loan without a cosigner unless it's something like a guaranteed student loan, in which the government is effectively your cosigner. You will need to qualify for a GSL, though, and your financial aid office will help you with that.
No.
Yes, you can switch the cosigner to the primary on a loan. The way to do this is to have the loan refinanced.
The only option is for the loan to be refinanced without the particpation of the present cosigner.
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.
The title has nothing to do with the loan. The loan will need to be refinanced using a different cosigner or only the primary borrowers.