Say I applied for a loan and asked that someone co-sign for me, to what extreme would their participation in the loan payment be? Are they sent bills as well? I'm not sure what they're exact necessity is. So if someone here could explain this out to me I'd appreciate it LOADS.
Thanks for those of you that try or do.
3:38 pm on Aug. 28, 2008
LiveWire Humor
BeautifulLies82
Soothsayer
If you don't pay, then the loan company will come after them.
3:39 pm on Aug. 28, 2008 | Joined: Jan. 2006 | Days Active: 513 Join to learn more about BeautifulLies82Maine, United States | StraightFemale | Posts: 6,030 | Points: 11,553
3:39 pm on Aug. 28, 2008 | Joined: May 2008 | Days Active: 385 Join to learn more about pujolsfanMissouri, United States | StraightMale | Posts: 9,041 | Points: 15,605
( Anonymous )
Sweet. Thanks.
3:42 pm on Aug. 28, 2008
blueroadrunner
Dairy Product Addict
yea so if you don't pay the credit hounds will hunt the other person.....and bug the hell out of them!
------- lighting high
4:04 pm on Aug. 28, 2008 | Joined: Dec. 2006 | Days Active: 165 Join to learn more about blueroadrunnerTexas, United States | StraightMale | Posts: 473 | Points: 2,145
campusvitals
Novice
A co-signer is stating that if you (primary borrower) are unable or unwilling to pay them what you owe, the other person will become liable for the payments that you do not make.
As long as the primary borrower makes payments on time, the co-signer will have zero involvement in the process. Only in default will a co-signer get called or sent a bill.
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