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3
votes
1answer
128 views

Who is responsible when property and the loan are in different names?

We have a LAP (Loan against property) loan with ICICI Bank. The loan is on my name (primary), with my brother and father as co-signers. I am not sure how the ICICI bank sanctioned the loan on my name ...
6
votes
1answer
311 views

Estate liability for co-signer to Sallie Mae student loan?

My son has student loans. I co-signed on three that are currently with Sallie Mae. He stopped paying so I am doing that in order to protect my own credit. What is my estate's liability should I die ...
0
votes
2answers
4k views

How do I get my name removed from a co-signed car loan?

I am the primary signer for a car loan consigned and being paid now by my son. Is there any way I can get my name removed from this loan?
2
votes
1answer
5k views

Joint account that requires all signatures of all owners to withdraw money?

I want to open an account/cheque that works like a joint account but when some one want to withdraw the money, he/she must have all the agreement/signatures of all of the rest of the other owners. ...
3
votes
1answer
11k views

My Co-Signer is the Primary Account Holder for my Car Loan - Does this affect my credit?

I recently financed a car purchase, and my father co-signed for me. I received the first bill, to find out that he is listed as the primary account holder with the finance company, although I am the ...
9
votes
5answers
2k views

Should I open a joint credit card account with my girlfriend? She can't get her own card

My girlfriend has been unable to get a credit card because of an outstanding (and, we think, fradulent) debt on her record. We tried to contact the collection agency using the address listed on all ...
8
votes
1answer
3k views

If I co-sign a loan, does it affect my own ability to borrow due to the debt-to-income ratio?

If I co-sign a loan (e.g. for a friend or family member), does it affect my own ability to borrow money due to the debt-to-income ratio?
4
votes
1answer
722 views

What happens if I co-sign a loan and the borrower or debtor dies?

What happens if I co-sign a loan and the borrower or debtor (the person that borrowed the money) dies? Does the co-signer then assume full liability over the loan, i.e. become the new and sole ...
10
votes
4answers
4k views

Co-signing & dying: What if a loan co-signer dies? Is estate of co-signer liable?

A grim and tragic question perhaps, but I'm curious: What happens when a person that co-signed on a loan dies? Is the co-signer's estate potentially liable until the loan is paid off, the same as if ...
16
votes
10answers
5k views

Someone asks you to co-sign a loan. How to reject & say “no” nicely or politely?

Hypothetical situation: A dear friend or family member comes to you and asks you to co-sign for their loan. Let's say the reason they need the money is not a life-or-death type of situation. ...
10
votes
1answer
219 views

If I co-sign on a loan for someone, am I putting up money (is there a cost)?

Does it cost me anything if I co-sign a loan for someone?
8
votes
4answers
2k views

Should you co-sign a personal loan for a friend/family member? Why/why not?

I know someone who was recently asked to co-sign a hefty loan by a family member. I don't know what I'd do if I was put in the same position as the one asked. What are the risks? What are things to ...