the cosigner died, while being the cosigner on a car loan, who is responsible for the loan and is there is a time limit on the the time the deceased is responsible...
2007-01-26 17:25:44 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
Whatever the will says, the executive of the estate, or executor of the estate assumes rights and responsibilities for taxes, loans,debts and stuff. I think.
2007-01-26 17:38:39 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Well they won't end up having to pay off the loan then.
The one that is a live has to pay off the loan.
The loan company can come after the estate of the deceased.
But I don't know that any one has to tell the loan company if the co-signer has died. Check the loan papers.
2007-01-27 01:39:06 · answer #2 · answered by Floyd B 5 · 0⤊ 0⤋
a co-signer is only responsible for a loan if the signer can not make the payments. As long as the signer is making the payments it does not matter if the co-signer died.
2007-01-29 22:39:23 · answer #3 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋
the person that is the Primary on the loan ( the #1 singer) is responsible for the debt. the co singer being dead has nothing to do with the loan.
2007-01-27 12:22:54 · answer #4 · answered by tall_slimm 2 · 0⤊ 0⤋