Sentences with phrase «obligation as a cosigner»

-- Your ability to obtain any sort of personal credit and / or loans decline as a result of your obligation as a cosigner.

Not exact matches

Personal finance experts advice consumers to deny requests for acting as a cosigner on any financial obligation unless there is an additional legal documentation drawn up to protect the cosigner.

Remember, a cosigner agrees to all the same obligations as a borrower, so cosigning a loan is a huge responsibility.

Parents typically do not agree to pay the monthly note but as a cosigner on a financial obligation, the parents ultimately become responsible whenever a payment has been missed.

- Have you considered what you will offer as collateral (the asset or assets that will be transferred to your lender if you can not meet your loan obligations) should your lender want loan security - Have you lined up a cosigner (someone who agrees to be liable for the debt if the borrower can not repay) should your lender request one?

You may apply to have your cosigner released from their obligation after the first 48 consecutive monthly principal and interest payments are received on time as long as you meet the underwriting and credit criteria at the time the cosigner release is requested.

Depending on factors including: length of credit history, income and existing credit obligations, student borrowers without a cosigner may be required to meet the minimum FICO ® score as determined by Ascent Student Loans.

Ascent private loans also allows cosigners to be released from the obligation as long as 24 on - time payments have been made in succession.

A cosigner's income will need to be sufficient to make the student loan debt payments, as well as covering their own debt obligations.