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Yes, if you defaulted on the loan.

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15y ago

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Can you sue the borrower if they defaulted on loan if im the cosignor?

Yes, you can sue the borrower and receive a judgment if they defaulted on the loan. They can also sue the cosigner.


Can a cosigner sue the primary for the full amount of loan when the cosigner pays it off?

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.


Can you sue loan company for using minor as a cosigner?

A minor cannot enter into a legal contract. Any loan they are a party to is invalid.


Can a primary signer sue cosigner on a loan?

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!


College loans without a cosigner?

In some cases a cosigner may not be needed for a student loan. Check with your college's financial aid office.


What responsibilities does the cosigner have when agreeing to be a cosigner on a loan?

When agreeing to be a cosigner on a loan, the cosigner takes on the responsibility of repaying the loan if the primary borrower fails to do so. This means the cosigner is legally obligated to make payments on the loan if the borrower cannot.


If the cosigner decides to pay off the loan to clear their property used for collateral can they put a judgment on the primary loan holder to collect the amount paid off?

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.


Do I have to pay for a cosigner when applying for a loan?

No, you do not have to pay for a cosigner when applying for a loan. A cosigner is someone who agrees to be responsible for the loan if you are unable to make payments, but they do not typically have to pay any fees to be a cosigner.


Can a minor obtain a loan with a cosigner?

Yes, a minor can obtain a loan with a cosigner, as the cosigner takes on the responsibility of repaying the loan if the minor fails to do so.


Where can you apply for tuition loan as the student without cosigner help?

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.


Can you get a cosigner for a home equity loan?

Yes, you can have a cosigner for a home equity loan. A cosigner is someone who agrees to be responsible for the loan if the primary borrower fails to make payments. Having a cosigner can help you qualify for a loan or get a lower interest rate.


Can you have a cosigner on a home equity loan?

Yes, it is possible to have a cosigner on a home equity loan. The cosigner agrees to be responsible for the loan if the primary borrower fails to make payments.