Posts tagged joint debt
Guaranteed, Co-Signed and Joint Loans

Generally, the co-signor is usually jointly and severally liable for 100% of the debt.  This means that, if there is a default, the lender will pursue the primary debtor and the co-signer at the same time and will be happy to collect their entire debt out of whomever they can recover from first.

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What You Need to Know Before Co-signing A Loan?

When you sign for a student loan, line of credit or any type of loan for a third party you are legally responsible if that person fails to meet the terms of that credit agreement.  If the other party misses payments the creditor will expect you to make the payments and demand that you pay out the account in full.

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