Co-signing
Promising to pay someone else's debt if that person does not make good on their obligations. Auto loans and mortgages often require a co-signer.
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Kluss (supervisor) [692]
wrote the first answer to How do you stop being a co-signer on an apartment 15 minutes ago
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added Can a cosigner take the other persons name of the title when the car is almost paid off to Co-signing 17 minutes ago
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Kluss (supervisor) [692]
wrote the first answer to How do you avoid paying a debt as co signer 21 May 2012 14:53
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Victoria WedderburnWhat to doCall the bank and ask. They will not lie about it. AnswerIf your car has been repo'd, call your...
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The lenders are not going to take off the name of the cosigner so easily because if the primary party fails to make the payment...
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The loan must be paid off or refinanced in the name of the primary borrower alone. A cosigner is equally obligated for the debt...
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Cosigner Rights Upon Repossession I am a co-signer for a large car loan for one of my adult children. I wanted to know what...
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Car Loans Specialist in USA offers a variety of car finance for your new or used cars with no co-signer. Credit doesn't matter if...
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A co-signer is jointly and severally liable on the note, but doesn't have any security interest in the vehicle. In other words he...
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As a person who co-signed an auto loan for someone who consistently made late payments, accrued late fees, and eventually filed...
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Purchasing a repossessed carMost lenders run their repo's through "dealer only" Auctions, but you there are still a lot of...
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The answer depends on the type of loan, whether the decedent was a co-signer or also a co-borrower, the state laws, whether the...
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Under federal law, creditors are required to give you a notice that explains your obligations. The cosigner's notice...
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Only your previous federal loan history affects your ability to get most federal student loans. For private student loans, your...
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Yes it can be done. I'm in the process of doing so myself.
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Many lenders have a co-signer release option! Just ask them. ADDED: most lenders that offer this option require a history of 2-5...
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Any property may have multiple liens secured against it. Generally, each of the liens may have some or all of the people with...
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Yes, you are responsible If the person you co-signed for is behind in payments and the insurance coverage expires you are...
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First things first; find out who's name is on the registration and title. If it is only in one of your names, you could be in...
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The lender should be looking only at your ability to repay the loan when they determine the amount they will lend, since they...
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Co-buyer = Name is on the title and has rights to the property. The lender will PROBABLY insist that this person also sign the...
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AnswerYou are certainly responsible for the actions of primary to the extent of the loan.No.In no way could a person be held...
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Depeding on how the vehicle is titled you may have legal rights to the vehicle even if you aren't making the payments. However,...
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Call your banker ASAP. Explain the situation and ask for advice.
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Yes. AnswerYes.You are certainly responsible for the actions of primary to the extent of the loan....and after that, it would be...
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If you can find a lender who will accept your signature, sure. Unlikely.
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Yes you can, if approved it will show positive on both reports.
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I think the cosigner should have legal rights for the car especially if they are making payments on it. If payments are not...
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Only the two consumer's who signed the contract are responsible. The debt will show on your husbands credit report. If you...
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Many people do not realize that by co-signing you are also a borrower on the loan; so even though the other borrower...
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Under federal law, I don't believe the lender has any obligation to contact you as soon as the borrower misses a payment. You...
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a traditional outfit for waiters is: black trousers, white shirt and a black (or dark green or dark red) waistcoat.
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Not necessarily. It is possible to co-own a car, be on title, and not have borrowed money for the vehicle. Credit history is...
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because Jacob is cool and every hot girl likes him and everybody thinks he is and he is so kind and no one hates him except...
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Yes, someone 18 or over can cosign on a loan. But you are legally liable for the entire amount if the borrower fails to...
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AnswerThe cosigner was probably "notified" that any funds held by the lender would be attached at the time the loan was signed....
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The lender will evaluate the cosigner's ability to repay the loan. As long as the cosigner is mentally competent, his health is...
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Yes, but remember . . . a person who act as their own lawyer in complex legal matters has a fool for a client.
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The car lender would repossess the vehicle and sell it off, if there is a remaining deficiency, then the lender can go after the...
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AnswerYou can sue for anything if you can find a lawyer to take the case, but collecting would be something else. You cosigned,...
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AnswerIf the title is in his name. AnswerWhat if the tittle is in both of there names? We are wanting to trade off our two...
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Yes, even if you're never asked to repay the debt, your liability for the loan may keep you from getting other loans because...
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It depends on how the vehicle is titled. If both of your names are on the title she has an equal right to possession of the...
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Co-signing a loan may not specifically require collateral, but if the person for whom you co-sign defaults , anything you own...
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You are only responsible for the loan you signed for. It will tie up the collateral for a longer period of time. Call the lender...
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Do what you agreed to do. Pay the lender.
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If your name is on the title, you can take the car. Just make sure he didn't re-titled it after the split.
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Most likely, but alot of it depends on the co signers credit score, also if they have sources of income other than a job. The...
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"I co-signed an auto loan with my ex-boyfriend back in Jul. 2003. He quit his job in Dec. 2003 and is still not working and not...
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I wish your name could be taken off in a year. As long as that person owes money on the contract you are stuck to that contract...
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It will be reported to the credit bureaus under both names, but will have a greater effect on the primary borrower's report. If...
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You need a lisence to drive the car, but not to cosign a loan.
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This should not show up on your personal credit report, but if you jointly apply for a loan (it is usually required that both...
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Yes. I co-signed for an auto loan and the other borrower filed bankruptcy without notifying me. I was in the process of buying a...
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Unless your name is on the title to the car as well as the loan, there isn't much you can do. If you don't make the payments,...
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AnswerYes, the debt is valid. A creditor is required by law to charge off an account after it has been in default for 180 days....
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You need to read the lease. There is probably a statement that says the agreement will continue on a month-to-month basis after...
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Only if the primary borrower is willing and able to refinance.
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PAY the loan off. Absent primary borrower being able to get the/a loan on his/her own and pay you off, only if the...
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AnswerThe obligation is that the loan is now the liability of the co-signer who did NOT file bankruptcy.Your rights are the same...
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Yes. And it will make a difference in your income to debt ratio.
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Not if the cosigner has been making the payments on time. But often the cosigner doesn't know the loan is in default until it is...
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AnswerYes, If the co-signer gets "dinged" on the credit report just like they where the signer
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ABSOLUTELY!
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AnswerCosigners are not for sale if that's your question. You have to find someone with a good credit rating preferably a friend...
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The primary borrower may be WILLING to take responsibility, but most likely the lender will not think he is ABLE to make the...
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AnswerNot unless their name is also on the title.If you're not on the title then you only agreed to pay the loan if the person...
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That is exactly why the lender insisted on a cosigner. They didn't believe the borrower could/would make the payments. ...
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Better make that "ex-friend". If the payments are not made, the finance company will take the furniture, but it sounds like you...
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The identity theft has to be resolved before the co-signing can be resolved. File charges,ect get that out of the way, then work...
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You can refinance the loan in your name only which will take her off the loan, she would then quit claim the house to you, which...
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If someone "co-signs" a car loan they will certainly be on title and will be entitled to 50% ownership of the car. Please note...
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No. If you are not on the deed, you can't sell the property. The only "right" you have as a cosigner is the obligation to make...
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Cosigning means you will pay any amounts the borrower does not pay, so if your son has paid the loan off, it is done.
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No, your credit rating is separate from your spouse. If he or she cosigns it will only effect his or her credit rating.
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If you got the loan from an established lender or bank, it should show up within 60 days at the latest. If you financed with...
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Co-signing a mortgage will put the debt on your credit report as well as hers. If your credit is bad, it will help improve your...
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From a commercial account, yes. From a loan, no. The loan must be re-financed in order to remove names from that type of account.
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No you are not responsible but if your step daughter does not pay the loan they can still repossess the vehicle.
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The "way out" is to pay the money. That's what you promised the bank you would do. Bankers are very good at determining who is...
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Can they? Yes. You can take someone to court for anything. Collecting is something else. Unless you had an agreement in...
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You are confusing me. The primary borrower should have the registration, insurance, and possession of the vehicle, not the...
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AnswerSome landlords require a cosignature on a lease if the lessee does not hold full time employment, aka college...
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Go to the county treasurer's office (or whatever authority issues titles in your state) and apply for a new title. I was...
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Since the person you co-signed for has agreed that you take possession of the car, then all you need for them to be removed from...
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In a few states you can, the best way is to go to the police/sheriff and explain what you want to know. You can call up the...
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No. If the primary borrower's credit rating has improved and you go back to the original lender, you MAY be able to refinance...
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AnswerIf you cosigned a car loan and the primary defaults, you are now legally responsible for repayment of the loan. If payments...
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As a co-signer you are taking responsibility for the loan if the signer defaults. If you are unemployed, why would you want to...
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Legally, a resident alien, or even a nonresident alien, can buy a house. Getting a mortgage should also not be a problem. ...
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If you are a minor, you cannot LEGALLY cosign or sign any loan/contractual agreement.
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No. A cosigner is not a co-owner of the property simply by signing the loan contract. They must specifically insist that they be...
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If his name is already on the title, you can't sell him something he already owns. You should be able to have your name removed...
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Sorry, but when you co-sign for a loan you are solely responsible. He gets to keep the car and you get the bill! This is why...
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This is called a 'straw' purchase. It does happen in the industry, but the banks do not allow it.
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NO. You no longer have collateral to secure the loan. Unless you are willing to use real estate or another vehicle that is fully...
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It does affect your credit rating. It is reported as YOUR debt, as well as the others person's debt. It only comes off YOUR score...
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Names cannot be removed from loan contracts. New contracts can be written to superceed prior contracts, which in the case of a...
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yes, 18 years old
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It will if the primary borrower does not keep the terms of the agreement. It will also affect the person's credit score such as...
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The person who was "cosigned for" is still liable and the collateral is still collateral, it's just owned by the estate now. Same...
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