Tags Auto Loans and Financing Personal Finance Loans Income Garnishment Money Management

Animals & Plants Arts & Entertainment Auto Beauty & Health Books and Literature Business Electronics Engineering & Technology Food & Drink History Hobbies Jobs & Education Law & Government Math People & Society Science Social Studies Sports Travel & Places

0

Subjects>Business>Finance

Can co signer be garnished for default auto loan?

Anonymous

∙ 16y ago

Updated: 9/15/2023

Yes - they are just as responsible as the person who bought the vehicle. Lesson learned --- don't ever co sign for ANYONE

Wiki User

∙ 16y ago

Still curious? Ask our experts.

Chat with our AI personalities

Ross

Every question is just a happy little opportunity.

Chat with Ross

Vivi

Your ride-or-die bestie who's seen you through every high and low.

Chat with Vivi

Maxine

I respect you enough to keep it real.

Chat with Maxine

Add your answer:

Earn +20 pts

Q: Can co signer be garnished for default auto loan?

Write your answer...

Submit

Still have questions?

imp

Continue Learning about Finance

Can you default on an auto loan if there is a cosigner and you are the primary?

Well, you CAN default but the co-signer would then be completely responsible for paying the loan that you defaulted on. The co-signers credit will be impacted by your default and all subsequent collections.

Can wages be garnished after a repossession to collect the balance?

Can wages be garnished for the balance of an auto loan in the state of Delaware

Does a co-signer help with your credit?

No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.

Can your wages be garnished with a double wide loan default?

If you are referring to a mobile home loan default, and there is a deficit balance left after the home is sold, then yes...you can be garnished. Talk to an attorney and see if you can work out the problem, before you give up this home. There is more to this problem than you think! Good Luck.

Can a co-signer of the mortgage be an Australian?

No. A U. S. lender would require a co-signer who is local and subject to U. S. law. The purpose of requiring a co-signer is to make certain the loan will be paid in the case of a default by the primary borrower. A co-signer in Australia would be out of reach.No. A U. S. lender would require a co-signer who is local and subject to U. S. law. The purpose of requiring a co-signer is to make certain the loan will be paid in the case of a default by the primary borrower. A co-signer in Australia would be out of reach.No. A U. S. lender would require a co-signer who is local and subject to U. S. law. The purpose of requiring a co-signer is to make certain the loan will be paid in the case of a default by the primary borrower. A co-signer in Australia would be out of reach.No. A U. S. lender would require a co-signer who is local and subject to U. S. law. The purpose of requiring a co-signer is to make certain the loan will be paid in the case of a default by the primary borrower. A co-signer in Australia would be out of reach.

Trending Questions

Where can you get help with paying impound bill? What Nat West branch has sort code 55-70-33? Where are the headquarters of the Danske Bank Group? What is another way to say in charge? Can you get a HELOC with bad credit but own your home? How much money do teenagers spend on clothes? How to improve Strategies for increase in fee based income in banks? What are the implications of Steam implementing a tax on purchases? Where can one find information on how to apply for loans from Wells Fargo? Is the Hartford an investment company? How much is 50 piastres worth in us dollars? When did limited companies start? What are three savings primary goals? How do you collect on a personal loan? How can I write off business trips on my taxes? What are the examples of lending companies terms and conditions? How financial resources of a school can be mobilized? Is there any pre -requisite to use payday max? Is there a limit as to how many saving account a person can have? Where can you apply for loans online in the UK?

Related Questions

What happens when a car payment go into default for the cosigner?

The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.The co-signer has guaranteed the loan, therefore the bank will go after the co-signer for payment. If the loan is in default the default will go on the co-signer's credit record and if they don't pay the balance if will be on their record as a defaulted loan.

Can you default on an auto loan if there is a cosigner and you are the primary?

Well, you CAN default but the co-signer would then be completely responsible for paying the loan that you defaulted on. The co-signers credit will be impacted by your default and all subsequent collections.

What happens if a loan is in default and is deceased but has a co signer?

The cosigner now owes for the loan.

Can my husbands wages be garnished if I default on my student loan?

Not if he did not cosign on the loans.

Can a co-signer ask the bank to repossess the property covered by the loan?

No. Repossessions are costly. The bank will simply require the co-signer to pay the loan if the primary borrower is in default. If there is a default it will be reported on the credit records of both persons.No. Repossessions are costly. The bank will simply require the co-signer to pay the loan if the primary borrower is in default. If there is a default it will be reported on the credit records of both persons.No. Repossessions are costly. The bank will simply require the co-signer to pay the loan if the primary borrower is in default. If there is a default it will be reported on the credit records of both persons.No. Repossessions are costly. The bank will simply require the co-signer to pay the loan if the primary borrower is in default. If there is a default it will be reported on the credit records of both persons.

Can wages be garnished after a repossession to collect the balance?

Can wages be garnished for the balance of an auto loan in the state of Delaware

Does a co-signer help with your credit?

No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.No. A co-signer helps you borrow money and helps the lender by promising to pay your loan if you default.

Will an auto loan that has multiple borrowers appear on each of the borrowers credit reports?

Yes. If there are multiple borrowers responsible for the loan, regardless of how they are part of the loan (either co-signer or a joint borrower), the status of the auto loan will appear on their respective credit reports. However, if the auto loan is guaranteed by another person other than the borrower, the guarantor will NOT have the auto loan appear on their credit report UNLESS the loan goes into default.

Can a co-signer repossess a vehicle if a sibling is not making payments?

The co-signer is typically a person who signs for the car loan; the co-signer may or may not be listed as a co-owner on the title. If the co-signer is also a co-owner, the co-owner who is paying the loan can legally take the car. However, if the co-signer is not a co-owner, taking the car would be grand theft auto. Incidentally, if the co-signer is not also a co-owner and the loan falls into default, both the signer and the co-signer will be identified in credit reports as defaulting on a car loan, even though the co-signer did not have or use the car.

When a buying car with a cosigner will your credit be mentioned?

Yes. Both the primary borrower's and the co-signer's credit will be checked, mentioned, affected, show the loan as a debt, and ruined if there is a default in paying the loan.Yes. Both the primary borrower's and the co-signer's credit will be checked, mentioned, affected, show the loan as a debt, and ruined if there is a default in paying the loan.Yes. Both the primary borrower's and the co-signer's credit will be checked, mentioned, affected, show the loan as a debt, and ruined if there is a default in paying the loan.Yes. Both the primary borrower's and the co-signer's credit will be checked, mentioned, affected, show the loan as a debt, and ruined if there is a default in paying the loan.

How does a 16 year old get an auto loan?

you need to be 18 to get a auto loan,and then you would most likely need a co. signer.

Can wages be garnished for a deficiency judgment from an auto loan?

Yes, you have to get a judgement first.

Still have questions?

imp

Resources

Top Categories

Product

Company

Copyright ©2025 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.