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
BeautifulLies82
Visionary
If you don't pay, then the loan company will come after them.
------- I wish for a place where the earth doesn't shake, and if the earth won't be still then you and I will.
3:39 pm on Aug. 28, 2008 | Joined Jan. 2006 | 453 Days Active Join to learn more about BeautifulLies82Maine, United States | StraightFemale | 4087 Posts | 9103 Points
pujolsfan
Soothsayer Patron Support Leader
if you dont pay, then they get the bill
------- Friendship is like peeing on yourself: everyone can see it, but only you get the warm feeling that it brings.
3:39 pm on Aug. 28, 2008 | Joined May 2008 | 161 Days Active Join to learn more about pujolsfanMissouri, United States | StraightMale | 6343 Posts | 11829 Points
( 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 | 123 Days Active Join to learn more about blueroadrunnerTexas, United States | StraightMale | 391 Posts | 1643 Points
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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