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Can a person who receives SSI be a cosigner for a car loan Will it affect the person SSI income?
Yes, a person receiving Supplemental Security Income (SSI) can be a cosigner for a car loan. However, being a cosigner does not directly affect their SSI income, as SSI is based on individual income and resources. It's important to note that if the primary borrower defaults on the loan, the cosigner may be responsible for repayment, which could impact their financial situation. Additionally, if the loan affects their overall resources or income, it could potentially influence their SSI eligibility.
What else can I help you with?
Can a person who receives Social Security be a cosigner?
yes
Can a person who receives Social Security be a cosigner for a car loan?
IF the lender approves, YES.
Can a person on ss be a cosigner?
Yes, it's income but need good credit & enough to qualify.
What responsibility does a cosigner on an apartment lease have?
a cosigner is a person who is responsible for the rest of the rent that you don't pay if u get evicted the person who signed as a cosigner will have to go to court
Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
If a person receives a settlement from auto accident will it affect unemployment?
It depends on your state's criteria regarding income while receiving compensation. While some allow it because it's not a source from the worker's previous employment income, most states still require you to report ALL income, regardless the source. If it does affect it, it usually offsets unemployment only in the week(s) received.
Can the income of a person living with you affect child support?
generally, no
If a person receives a paycheck for 600 and the government takes 200 in income taxes it is a result of which amendment?
sixteenth
If you cosign an auto loan for someone and they refinance in one year and remove you from the loan how will that affect your credit assuming all payments are made on time?
The cosigner's credit isn't affected one ioto unless the person who was responsible for the loan payments defaulted, then and if the cosigner also defaulted. In other words, just being a cosigner does not affect ones credit ratings.
How can I hire a cosigner for a personal loan?
To hire a cosigner for a personal loan, you need to find someone with good credit and a stable income who is willing to guarantee the loan if you are unable to repay it. This person will need to fill out an application with you and provide their financial information to the lender. It's important to choose a cosigner carefully, as they will be responsible for the loan if you default.
If you need a cosigner for a loan and you have someone with a credit score of 700 who will cosign but they only made 12k last year will they be approved?
The credit score could indicate that the person is responsible in their financial dealings. Unfortunately the salary amount would not be favorable. Many lenders will, however, look at the overall financial picture of the cosigner; for example the person's debt to income ratio, potential for increased future income, etc.
Can a person with lower income and good credit still get a mortgage without a cosigner if their down payment is large?
As long as their debt to income ratio is low enough. Generally your mortgage payment should be 25-35% of your net income (what you actually bring home)
