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Who pays loan on joint account when only one signed for the loan then dies?
Wiki User
∙ 12y ago
I'm not sure if I get the question. Are you talking about having a cosigner orlike in a PLUS loan? If a borrower dies, the loan can be discharged.
Wiki User
∙ 12y ago
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Can a person take out a personal loan from a joint account?
A joint account is just another bank account which can be used for any purpose. Yes, you can use it to take a personal loan or pay for one. There are no restrictions reg. joint accounts not be linked with personal loans.
What happens if you co-signed a car loan and the primary borrower dies?
You are still respnsible for paying should the borrower die.
Will having a joint bank account with someone who is behind on their personal loan affect your own ability to get a personal loan?
No. Credit history pertains to the individual. With the exception of joint accounts such as credit cards, not bank accounts.
Can you get a payday loan with a Prepaid account?
It is not likely you will get a payday loan with just a prepaid account. In order to get a payday loan, you need some guarantee that you will get your next payday. Lenders will ask that have a steady job, an active checking account and possibly signed up for direct deposit too.
What if the spouse dies and there is still a lien on the house but both parties signed the mortgage?
Most lenders will allow you to continue to make the payments as the loan is. Some may modify the loan. As long as you can continue the payments, you will be ok.
If my dad and i hada joint bank account and he died am i responsible for the debt?
The survivors of a decedent are not responsible for his debts unless they co-signed a loan with him. So no, you are not responsible simply because you had a joint bank account.
In MI can a parent be liable for a joint car loan account defaulted by their child if the parent knew nothing of the account and never signed an agreement or made a purchase?
No
Is a cosigner for a checking account liable for any loans the signer has with the same bank?
No, unless you so-signed on the loan you are not responsible for the loan. The only way you are affected is if someone uses your share of the money in the joint checking account to pay their personal loan, but legal responsibility does not fall on you...
Can you loan with speedy cash if you have a joint account?
Possibly, but you should consult your joint account holder before doing this.
Can a creditor or collection agency access another family member's bank account for debt collection?
Well in Canada they cannot, unless it is a joint bank account or the family member co-signed for the loan.
Can a person take out a personal loan from a joint account?
A joint account is just another bank account which can be used for any purpose. Yes, you can use it to take a personal loan or pay for one. There are no restrictions reg. joint accounts not be linked with personal loans.
What happens if you co signed a student loan and the primary borrower dies?
Their going to come after you to pay the debt. YOU CO-SIGNED! That means in the event that the primary borrower can not or does not pay the loan you are responsible to pay that loan. There is no way around that.
Can child support garnish a joint personal loan?
Yes to the extent that the loan becomes an asset (bank account, etc.).
Does a bank have to refinance a car to transfer payments to someone else?
Yes. Or the bank can "add" you to the loan and retain the originator too making the loan a "joint" or "co-signed" loan.
What happens to a mortgage loan when the sole loan holder dies and the property is titled Joint tenants with full rights of suvivorship?
The mortgage obligation remains on the property. If the holder of the mortgage dies then her heirs own the mortgage.
Will having a joint bank account with someone who is behind on their personal loan affect your own ability to get a personal loan?
No. Credit history pertains to the individual. With the exception of joint accounts such as credit cards, not bank accounts.
What happens if you co-signed a car loan and the primary borrower dies?
You are still respnsible for paying should the borrower die.
