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If a car was voluntary repossessed and the cosigner was not notified is the cosigner still responsible?
Yes. If you signed the loan, you are still legally responsible for it.
Why is my cosigner listed on my title?
Your cosigner is listed on your title because they are legally responsible for the loan if you are unable to make payments. This provides the lender with added security and ensures that the loan will be repaid.
Why is my cosigner listed on my car title?
Your cosigner is listed on your car title because they are legally responsible for the loan if you are unable to make payments. This provides the lender with added security and ensures that the loan will be repaid.
If you cosigned for a car and it got repossessed voluntarily what will it do to your credit and will you owe?
Whether a repossession is done "voluntarily" by the primary or through the action of the lender, the primary borrower and the cosigner are still legally responsible for all the terms of the lending agreement. The affect the repossession has on the cosigner's credit history will depend upon the actions of the lender to recover the debt owed.
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.
When could women legally get a checking account on their own without a cosigner in the US?
women could legally get a checking account on their own without a cosigner in the U.S. in present day today.
How long before your vehicle can legally be repossessed?
WE'RE ON OUR WAY!!!!!
Is the cosigner of an auto loan responsible for the loan if the loan was refinanced by the buyer without the knowledge or consent of the cosigner?
No, the refinancing without the consent or knowledge of the original cosigner created a breach of the original lending agreement and the cosigner is no longer legally obligated for the debt.
Can a cosigner be held legally responsible and sued for a car accident involving the primary borrower?
Yes, a cosigner can be held legally responsible and sued for a car accident involving the primary borrower, as they are equally liable for the loan and any related incidents.
What legal rights does a cosigner have in a loan agreement?
A cosigner in a loan agreement has the responsibility to repay the loan if the primary borrower fails to do so. The cosigner is legally obligated to make payments and has the right to receive notifications about the loan status.
Can your federal tax refund be taken if you cosigned for a truck that was repossessed?
Legally, YES.
Can a loan company place a lien on a cosigner's home?
They cant legally "threaten" to do do anything that they cant legally do, so the answer is YES, they can attach your home.
