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A co-signer takes on all the rights and responsibilities of a loan along with the borrower. This means that if the borrower can’t make a payment on the loan, the co-signer is responsible.
Benefits of cosigning. Drawbacks of cosigning. You can help a loved one qualify for a loan. You assume full liability for payments and late fees if the main borrower falls behind or files bankruptcy
A co-signer — usually a family member or friend — also assumes legal responsibility for your loan by signing on when you apply. Adding a co-signer who meets the eligibility requirements may ...
Is it possible to get a cosigner released from responsibility for a loan? Read this to find out.
If your loan co-signer dies, you’ll take on full responsibility for the loan. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways ...
Getting a student loan can be complicated, and one way to improve your odds is to get a co-signer (or guarantor). Many borrowers resort to this option for a variety of reasons -- for instance, some...
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Your co-signer must be willing to assume equal responsibility for the loan without being able to access the funds. They must also be able to support the cost of the loan on their income.