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What can you do if you have bad credit and your school has denied your financial aid request and you cannot get a cosigner for a student loan?
I know this isn't an answer, but I thought I would let you know that you aren't alone.
I found out today that my Mom had been denied for student loans, and she is the only person I have to cosign. It feels like the end of the world. It feels like my dreams of going to college are crumbling before my feet. I'm becoming a part of a statistic.
I think the only thing we can do is pray. Pray that somone somewhere will help us. And that maybe right now this seems like the most messed up thing and that this shouldn't be happening, but theres got to be a reason.
Knowing that there must be a reason is the only thing that's keeping me going.
I hope and pray that you can find help too. :D
What else can I help you with?
Can I buy a cosigner to help me secure a loan or financial agreement?
No, you cannot buy a cosigner to help you secure a loan or financial agreement. A cosigner is someone who agrees to be responsible for the debt if you are unable to pay, and they must have a good credit history and be willing to take on that responsibility voluntarily.
Can you pay for a cosigner to help secure a loan or rental agreement?
No, you cannot pay someone to be a cosigner for a loan or rental agreement. A cosigner is someone who agrees to take on responsibility for the debt if the primary borrower fails to pay. It is based on trust and financial stability, not on payment.
Can a 17-year-old get a loan to buy a used vehicle if he has a cosigner with great credit?
No, minors cannot legally enter into financial agreements.
Can I request a loan on r/borrow to help with my financial situation?
No, you cannot request a loan on r/borrow as it is against the subreddit's rules.
What are the rights of a cosigner?
A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.
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.
How do you get your name off of an auto loan that you cosigned on if other party cannot get another loan and has nobody willing to take over as cosigner?
A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.
What are the requirements for applying for online cosigner loans?
To apply for online cosigner loans, you typically need a good credit score, a stable income, and a willing cosigner with good credit. The cosigner agrees to pay the loan if you cannot.
Is it possible to buy a cosigner for a car?
No, it is not possible to buy a cosigner for a car. A cosigner is someone who agrees to be responsible for the loan if the primary borrower fails to make payments. They cannot be purchased or hired.
Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
Can a cosigner be arrested?
A cosigner cannot be arrested solely for being a cosigner on a loan. However, if the primary borrower defaults on the loan, the cosigner may be held responsible for the debt and face legal action if they do not fulfill their obligations.
Can a cosigner become the primary borrower on a loan?
No, a cosigner cannot become the primary borrower on a loan. The cosigner's role is to provide a guarantee for the loan in case the primary borrower fails to make payments.
