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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.
Total questions 3600
How do you have your car voluntarily repossessed?
Call the lender and tell them due to certain circumstances, you can no longer afford the payments. Tell them you will take it...
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Can a cosigner have their name taken off a debt?
A cosigner can be removed if the other party refinance the vehicle obtaining a loan only in their name. The co-signer will have...
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Does a cosigner have rights to the car?
Co-Signer Rights Here are answers and opinions from FAQ Farmers: IN THE EVENT OF FAILURE TO MAKE A PAYMENT OR IF THE...
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How does cosigning affect your credit rating?
How Co-Signing Affects Credit As a person who co-signed an auto loan for someone who consistently made late payments, accrued...
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What happens when a co-signer dies?
The estate is not responsible to fullfill the agreement. Cosigning obligations are invalidated at time of death.
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Can you sue the person you cosigned for?
Yes it can be done. I'm in the process of doing so myself.
Popularity: 192 • Tools: Recategorize
What are the risks of cosigning a loan?
Under federal law, creditors are required to give you a notice that explains your obligations. The cosigner's notice...
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Does cosigning an auto loan make you responsible for insurance?
Yes, you are responsible If the person you co-signed for is behind in payments and the insurance coverage expires you are...
Popularity: 174 • Tools: Recategorize
Is there anyway to get your name off a car lease if the cosigner will not refinance?
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...
Popularity: 174 • Tools: Recategorize
What are the rights of a co-signer if the person who has the vehicle has decided not to make payments?
None really. Even if you are on the title to the car as well as being a cosigner, you can't do anything without the other...
Popularity: 170 • Tools: Recategorize
Will having a cosigner lower your APR or enable you to borrow more?
The lender should be looking only at your ability to repay the loan when they determine the amount they will lend, since they...
Popularity: 169 • Tools: Recategorize
Does a cosigner have any liability if the owner of vehicle has an accident?
You are certainly responsible for the actions of primary to the extent of the loan. No. In no way could a person be...
Popularity: 164 • Tools: Recategorize
Does a co-signer have legal rights to a vehicle if they have been making the payments?
Depeding on how the vehicle is titled you may have legal rights to the vehicle even if you aren't making the payments. However,...
Popularity: 162 • Tools: Recategorize
If the primary owner files bankruptcy and has a co-signer can the co-signer continue to pay and take ownership of property?
That's an issue that has to be decided by the court, the lender and the exemption status of the property.
Popularity: 159 • Tools: Recategorize
Can a cosigner's name be removed from a loan?
"if you are a co-signer for a motorcycle how do i get name off besides refinanceing or selling" Those are your only options.
Popularity: 159 • Tools: Recategorize
Can you put a lain on a property if you cosigned and are making the payments?
Call your banker ASAP. Explain the situation and ask for advice.
Popularity: 157 • Tools: Recategorize
Is the cosigner responsible for the debt?
Yes. Answer Yes. You are certainly responsible for the actions of primary to the extent of the loan....and after...
Popularity: 151 • Tools: Recategorize
How do you find out if a lien has been placed on your house?
It is possible to go to the Register Of Deeds office at your county court house. Take along a tax bill or something else with the...
Popularity: 151 • Tools: Recategorize
Can you improve your credit score by cosigning for someone who has perfect credit?
Yes you can, if approved it will show positive on both reports.
Popularity: 148 • Tools: Recategorize
Is the co-signer and co-buyer the same thing on a bank application?
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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Are you responsible for a loan your spouse cosigned?
Only the two consumer's who signed the contract are responsible. The debt will show on your husbands credit report. If you...
Popularity: 147 • Tools: Recategorize
Does the cosigner need to be contacted when the owner stops making payments?
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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Is a lender required to evaluate whether a cosigner should be allowed to cosign?
The lender will evaluate the cosigner's ability to repay the loan. As long as the cosigner is mentally competent, his health is...
Popularity: 138 • Tools: Recategorize
Must the lender notify the cosigner of intent to collect on a default?
The cosigner was probably "notified" that any funds held by the lender would be attached at the time the loan was signed. In...
Popularity: 137 • Tools: Recategorize
Why is jacob so awesome?
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 loser
Popularity: 136 • Tools: Recategorize
Can a young person cosign a loan?
Yes, someone 18 or over can cosign on a loan. But you are legally liable for the entire amount if the borrower fails to...
Popularity: 134 • Tools: Recategorize
Will being a cosigner make it harder for you to get a loan in the future?
Yes, even if you're never asked to repay the debt, your liability for the loan may keep you from getting other loans because...
Popularity: 133 • Tools: Recategorize
Can the primary account holder on a car loan sell the vehicle without the cosigner's consent?
If the title is in his name. Answer What if the tittle is in both of there names? We are wanting to trade off our two cars...
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Does being the co-owner of a car give you credit?
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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Are there any loopholes with co-signing an auto loan?
"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...
Popularity: 126 • Tools: Recategorize
Can a cosigner sue the primary borrower for the entire amount of a loan?
You 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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What rights does a cosigner have if they have been making the payments and their name is on the title?
If your name is on the title, you can take the car. Just make sure he didn't re-titled it after the split.
Popularity: 126 • Tools: Recategorize
Can a co-signer take your car away?
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...
Popularity: 125 • Tools: Recategorize
Can a cosigner have their name removed from the loan?
Cosigners Being Removed A cosigner is equally obligated for the debt until the loan is paid or refinanced without the...
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If you co-sign with someone who defaults on the note is there any way to get it removed from the co-signers credit?
Do what you agreed to do. Pay the lender.
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Is collateral needed to cosign a loan?
The cosigner needs "the ability to repay" the debt. Normally this is based on income, but a lender may accept collateral,...
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Is the cosigner's legal obligation when the borrower gets a 'tag on' loan?
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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Can a cosigners name be taken off a loan within a year?
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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Is someone cosigns for you does it help your credit or theirs if payments are made on time?
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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Does the cosigner have any rights to a car by paying it off even if he's not on the title?
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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Does a cosigner need a driver's licence?
You need a lisence to drive the car, but not to cosign a loan.
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If you are a co-borrower on a mortgage and the other co-borrower has just filed bankruptcy will this affect your credit rating?
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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Can a co-signer be removed from a personal loan?
Only if the primary borrower is willing and able to refinance.
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If you made a couple of late payments on your apartment will this affect your cosigner's credit rating?
Yes, If the co-signer gets "dinged" on teh credit report just like they where the signer
Popularity: 116 • Tools: Recategorize
Do you still have to pay a charge off account?
Yes, the debt is valid. A creditor is required by law to charge off an account after it has been in default for 180 days. In all...
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If you cosigned for someone who is not paying their bills but it willing to take full responsibility can you get out of it?
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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Is the credit rating of a cosigner's spouse affected?
This should not show up on your personal credit report, but if you jointly apply for a loan (it is usually required that both...
Popularity: 114 • Tools: Recategorize
If you cosigned for a car and the owner wants to let it be repossessed what can you do?
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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If you are a co-applicant on a car loan but not the primary does it get reported on your credit report as well as the primary applicant?
Yes. And it will make a difference in your income to debt ratio.
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Is a cosigner responsible for making payments on a car loan if the primary borrower does not?
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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Can the cosigner take possession of the car?
Not unless their name is also on the title.
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How can you get your name off of a loan which you cosigned?
Only if the primary borrower is willing (and qualifies) to refinance. Answer Absent primary borrower being able to get...
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What if your cosigning is a case of identity theft?
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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If someone co-signs a car loan for you do they own part of the car and will their name be on the title?
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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If the cosigner has the property can the primary loan holder take the property away?
Better make that "ex-friend". If the payments are not made, the finance company will take the furniture, but it sounds like you...
Popularity: 110 • Tools: Recategorize
What are the rights or obligations of a co-signer for a loan that has been included in a bankruptcy and who does not have the money to pay the large debt himself?
The obligation is that the loan is now the liability of the co-signer who did NOT file bankruptcy. Your rights are the same as...
Popularity: 109 • Tools: Recategorize
If the borrower cannot make the payments but the cosigner does can the mortgage company still take the house?
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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Can the cosigner sell the house if his name is not on the deed and the primary borrower has missed 3 payments?
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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If your spouse co-signs for someone will it affect your credit too?
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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Is a cosigner's spouse responsible for the loan if he dies?
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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Does the co-signer have to signed the papers in the presence of the lender of the primary borrower?
ABSOLUTELY!
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If a student loan is paid in full by the student does the cosigner have to pay the like amount also?
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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Does a college student need to have a parent's cosignature on an apartment lease while attending college?
Some landlords require a cosignature on a lease if the lessee does not hold full time employment, aka college students. ...
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Where can you get a co-signer?
Cosigners are not for sale if that's your question. You have to find someone with a good credit rating preferably a friend or...
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How will co-signing a mortgage for your mother effect your chances of getting a home of your own at a later date?
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...
Popularity: 103 • Tools: Recategorize
How can the co-signer be released on an 18-month rental agreement?
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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If you have paid off the loan and got the lien release from the bank how do you get the cosigner off of the title?
Go to the county treasurer's office (or whatever authority issues titles in your state) and apply for a new title. I was...
Popularity: 102 • Tools: Recategorize
If you are separated and your wife cosigned on a home for you then you get a divorce a few months later is it possible for her to get off the loan?
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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Does a co-signer have any ability to get out of a loan?
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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If you co-sign a loan how long will it take to show up on your credit report?
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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If you co-sign for an car loan and the car registration and insurance are in only your name and you make all of the payments and you have possession of the vehicle does the other person have any right to take the car?
You are confusing me. The primary borrower should have the registration, insurance, and possession of the vehicle, not the...
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If you co-sign for a car is there any way to get out of it?
PAY the loan off. Answer Absent primary borrower being able to get the/a loan on his/her own and pay you off, only if...
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Can a cosigner take the borrower to court for payments the cosigner had to make?
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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If you co-sign for a loan and you take over the payments can you get the other person on the title taken off?
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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Is there a way to remove a co-signer from a mortgage without refinancing?
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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How do you find out if your name is on the car title and registration - can this be looked up on the internet?
In a few states you can, the best way is to go to the police/sheriff and explain what you want to know. Answer You can call...
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If you cosigned on a car loan and the primary defaulted now the lender is threatening to issue a judgment against you what does that mean and how do judgments work?
If you cosigned a car loan and the primary defaults, you are now legally responsible for repayment of the loan. If payments are...
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Will co-signing a student loan harm your personal credit?
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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If you cosigned on a car loan and the car got repoed can you get the car back if you pay the loan off?
Popularity: 69 • Tools: Recategorize • Needs Answer
Is it possible to add a co-borrower or co-signer when refinancing a mortgage loan?
Yes. Refinance is a new loan. It is super simple to add a co-borrower on a refi.
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Should the creditor report the payments made by the cosigner after the borrower has filed bankruptcy to the credit bureau?
I'm really not sure the answer to your question. However, I'm in a similar situation and wonder if you could answer some...
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What do you do if your vehicle was repossessed if you were the co-borrower and the other borrower has filed Chapter 7?
You either pay or dont pay or file B/K also. Answer If a co-borrower has debt discharged through bankruptcy, the other...
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If you cosigned for a car and the primary borrower is not paying can you sue for the car if you have kept the payments current but the car is in the other name?
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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Is it possible to be removed as a co-signer on a loan if payments are not late?
The only way to be released as a co-signer is to have the primary borrower refinance the loan in their name only or with a...
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What are 3 federal acts that apply to co-signers?
http://www.illinoislegalaid.org/index.cfm?fuseaction=home.dsp_content&contentID=295#defenses_risa_mvrisa you can find it here ...
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Is it necessary for a mortgage co-signer to also be a co-owner on the deed?
The lender usually insists that anyone whose name is on the deed also sign the loan and mortgage papers, but a co-signer does not...
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Do you need to have a steady income to be a cosigner?
You need to be able to qualify for the loan. This almost always includes a disposable income sufficient to make the payments. ...
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What happens if a loan is in default and the co-signer who put up the collateral is deceased?
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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If your husband cosigned for an ex-girlfriend can he get his name removed and if she does not pay can your credit be affected?
Sorry to be the bearer of bad news, but... Usually the only way to get removed from co-signer status is to file a suit against...
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Is the buyer the owner?
The OWNER is listed on the TITLE and/or registration. Answer The buyer actually becomes the owner when all financial...
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Does the cosigner have to obtain the primary's signature to trade in the vehicle?
yes, as co-signer you only guarantee the loan in case the primary defaults, they own the car.
Popularity: 60 • Tools: Recategorize
If someone stops making payments on their car loan and you are the cosigner and your name is also on the title can you pay the loan off and take possession of the vehicle?
Possibly. Contact an attorney for a definate answer.
Popularity: 60 • Tools: Recategorize
Is it legal for your cosigner to make the final payment and have the car title mailed to them and have your name taken off the title?
A title cannot be transferred without the proper paperwork being done and the person on the original title signing it over to the...
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Can a co-signer take over car payments without the need to 'sell' the car?
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...
Popularity: 59 • Tools: Recategorize
Can you cosign for someone on a mortgage loan while unemployed?
A cosigner is 'loaning' his good credit to the borrower. If you are unemployed, it is unlikely that you could get a loan for...
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How do you get your name taken off of a loan you co-signed for without having to pay the transfer of ownership payment that the borrower does not want to pay?
When you co-sign that is YOUR LOAN! I am sure your banking institution made you aware of this. When one chooses to co-sign it's...
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Can a minor cosign a loan with someone other than his or her legal guardian?
If you are a minor, you cannot LEGALLY cosign or sign any loan/contractual agreement.
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Are parents required to co-sign for an apartment when the tenant is over 18?
co-signors are required of anyone of any age who does NOT meet the credit requirements of the entity extending credit. doesnt...
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If you were to cosign for a rental agreement how will your credit be affected and how does one get removed as cosigner?
The way it may impact on the credit report depends on if the person pays the rent as agreed. It will also play a part in the...
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Can you return the co-signed car to the dealer?
Sure if you want to ruin your credit and end up paying the difference between what the car eventually sells for and what you owed...
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