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

Sawin & Shea

JUNE 7, 2023

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.

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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

JUNE 22, 2021

Our bank and loan servicing clients also face novel challenges affecting their industry due to COVID-19, particularly the ever-changing rules and regulations concerning evictions and foreclosures. You may access this interactive tool at [link]. Pritzker issued an order to rescind Executive Order 2020-25 on June 25.

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