Remove Chapter 13 bankruptcy Remove Creditworthiness Remove Repossession
article thumbnail

Cosigner Responsibilities: When Is a Cosigner Liable for a Debt?

Sawin & Shea

When a borrower applies for a loan or credit card, the lender will assess their creditworthiness by looking at their income, credit score, and debt-to-income ratio. Creditors can pursue reimbursement from the co-signer via repossessions, foreclosures, wage garnishment , and other aggressive actions.