Question: 8 . If you cosign a loan 1 . The creditor is prohibited from garnishing your wages if you refuse to pay loan in full

8. If you cosign a loan
1. The creditor is prohibited from garnishing your wages if you refuse to pay loan in full
2. You will be required to pay the loan in full if the borrower does not Pay
3. The creditor must first try to collect the borrower
4. you will be asked but not required to pay loan
5. You are only responsible for half of the debt obligation

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!