close
    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?


     

    +1  Views: 1344 Answers: 1 Posted: 12 years ago

    1 Answer

    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.



    Top contributors in Uncategorized category

     
    ROMOS
    Answers: 18061 / Questions: 154
    Karma: 1101K
     
    Colleen
    Answers: 47270 / Questions: 115
    Karma: 953K
     
    country bumpkin
    Answers: 11322 / Questions: 160
    Karma: 838K
     
    Benthere
    Answers: 2392 / Questions: 30
    Karma: 760K
    > Top contributors chart

    Unanswered Questions

    linkvaowi88win
    Answers: 0 Views: 4 Rating: 0
    Nhà cái 188bet
    Answers: 0 Views: 13 Rating: 0
    78winskin
    Answers: 0 Views: 8 Rating: 0
    FB68 farm
    Answers: 0 Views: 9 Rating: 0
    Slot Gacor Gampang
    Answers: 0 Views: 9 Rating: 0
    kubet vip
    Answers: 0 Views: 8 Rating: 0
    > More questions...
    452478
    questions
    719797
    answers
    754820
    users