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Is a cosigner responsible for a car loan if the main borrower dies?

Cynthia Baker

in Student Loans

1 answer

1 answer

Jeffrey Rodriguez on April 16, 2018

Yes. The co-signer must negotiate a solution as soon as possible. If the debt goes into default the co-signer's credit will be ruined. The co-signer should try to get the lender to recover the vehicle and negotiate the amount it will take to pay off the debt. On the other hand, the co-signer could try to get the title of the decedent's estate and then pay the loan.

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