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If your application is approved, the joint personal loan or credit card is issued in both of your names and you are both legally liable for repaying the debt. Joint borrowing can also have an ...
Some lenders also offer joint loans, which allow both borrowers to access the loan funds. Like co-signed loans, both parties will be liable for loan payments. Like co-signed loans, both parties ...
You applied for a personal loan with a joint applicant — in that case, ... Apply for cosigner release on any private student loans, if you’re eligible. This is especially important if your ...
Under joint and several liability or (in the U.S.) all sums, a plaintiff (claimant) is entitled to claim an obligation incurred by any of the promisors from all of them jointly and also from each of them individually. Thus the plaintiff has more than one cause of action: if she pursues one promisor and he fails to pay the sum due, her action is ...
In a direct auto loan, a bank lends the money directly to a consumer. In an indirect auto loan, a car dealership (or a connected company) acts as an intermediary between the bank or financial institution and the consumer. Other forms of secured loans include loans against securities – such as shares, mutual funds, bonds, etc.
If the joint account is a survivorship account, the ownership of the account goes to the surviving joint account holder. Joint survivorship accounts are often created in order to avoid probate. If two individuals open a joint account and one of them dies, the other person is entitled to the remaining balance and liable for the debt of that account.
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