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  • Make your payments on time.
  • If you can't pay, contact the creditor immediately, before the payment due date. Your call demonstrates your good faith. Most creditors are willing to make alternative arrangements if your situation has changed.
  • Don't wait until the due date has passed or until the creditor calls you. Waiting puts you at a disadvantage when dealing with your creditor and that's the last thing you want.
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Q: What are your responsibilities as a borrower?
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What are your responsibilities as borrower?

Maintaining a good cedit rating


What is the difference between advance payment and down payment?

Down Payment: Payment, which is a loan in advance with no securities for the borrower or the buyer. Advance Payment: Payment which is connected with respective responsibilities. That means that the borrower or buyer gets some securities from the lender or vendor.


Can a mortgage borrower apply for court foreclosure?

No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.


What are all the responsibilities of a co-signer?

A co-signer is responsible for all provisions of the loan agreement. "Co" means equal. You and the primary borrower are equally responsible for the contract. Find out more at www.dealertricks.com


Rights and responsibilities of borrowing?

As a loan borrower you have the right to a grace period and an explanation, deferment of repayment for certain periods, forbearance, and documentation that your loan was paid in full. It is your responsibility to repay your loan in full.


Are a primary borrower and a secondary borrower on a car loan equally responsible for the loan?

Yes, the cosigner/co-borrower has the same legal responsibility to repay the debt/loan as does the primary borrower. If the primary defaults the creditor can attempt to collect from the co-borrower before the primary borrower.


What are borrower?

Borrower is a person who borrow something. It is a common defination.


Who gets garnished for student loan The borrower or the cosigner?

the borrower


Can a co borrower sell car without borrower consent?

no


Who is held responsible for the loan on a repossessed vehicle?

The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.


What is ordinary time in simple interest?

Any time that the borrower and lender agree to.Any time that the borrower and lender agree to.Any time that the borrower and lender agree to.Any time that the borrower and lender agree to.


What is the borrower failed to pay is co borrower liable for it?

Yes. Completely.