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    3. Co-signing on a loan if borrower defaults, what are co-signer's rights?
    Co-signing on a loan if borrower defaults, what are co-signer's rights?

    A friend of mine co-signed on a lease car for a friend of his and now the main borrower is not paying and the banks are after him for payment.  What can he do?


     

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    +1  Views: 1589 Answers: 1 Posted: 14 years ago
    Tags: co-signers loans
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      As a co-signer, you signed your rights away as far as not being responsible. I have a client who co-signed for a house for her son and he got into drugs, the obvious happend. She lost her retirement savings and is still fighting not to loose her house.One should always think good and hard before taking on that responsibility.

      14 years ago. Rating: 1
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