2007-01-05 05:56:31 · 5 answers · asked by joy_1_92408 1 in Cars & Transportation ➔ Buying & Selling
Their off the hook if you default.
2007-01-05 05:59:23 · answer #1 · answered by wickedness_one 3 · 0⤊ 0⤋
In car loans, the 2nd name is the default. So the cosigner and the cosigner's spouse would be removed as a collection interest in case there's a default on the loan.
2007-01-05 05:59:45 · answer #2 · answered by owensb01 3 · 0⤊ 0⤋
The other cosigners bear the burden if it's a debt or will get money the estate does not need that to cover a debt from the passed away cosigner.
2007-01-05 05:59:04 · answer #3 · answered by Joepapio 2 · 0⤊ 0⤋
the co-signer is only there to get the less credit worthy person bought if that person fails to pay for the car it is re-po'ed the credit report showing a re-position will not matter to the deceased
2007-01-05 08:43:04 · answer #4 · answered by Gary E 2 · 0⤊ 0⤋
the bank usually don't know it unless you tell them. my grandmother co signed for me on a loan and went to renew it. well they were gonna calll her to do more paperwork. I said, ummmm she is dead. they were like okay. I said she used the same bank as me and you didn't know???? that was kinda funny.
2007-01-05 05:59:42 · answer #5 · answered by Missledtngirl 3 · 0⤊ 0⤋