Posted on: 09th Oct, 2008 03:22 pm
If someone cosigns for you can that person, get there money out of me that they payed into the loan?
Hi kayleeoliver!
Welcome to Forums!
A cosigner is a person who signs his or her name in the loan agreement and in case the primary debtor fails to pay, the cosigner is fully responsible for the debt. I do not think that the co-signer can demand the money he/she paid on your behalf. But in case you have signed a deal in this regard, then the co-signer can ask you to pay.
Feel free to ask if you have further queries.
Sussane
Welcome to Forums!
A cosigner is a person who signs his or her name in the loan agreement and in case the primary debtor fails to pay, the cosigner is fully responsible for the debt. I do not think that the co-signer can demand the money he/she paid on your behalf. But in case you have signed a deal in this regard, then the co-signer can ask you to pay.
Feel free to ask if you have further queries.
Sussane