If you co-sign a loan
A) you are not responsible for future payments on the loan.Your signature only indicates that you believe the borrower is credit worthy.
B) you are only responsible for the remaining loan payments if the borrower becomes bankrupt.
C) you are only responsible for the portion of the loan that you personally benefited from.
D) you are financially responsible for the outstanding loan balance should the borrower stop repayments.
Correct Answer:
Verified
Q63: An important concern of creditors when evaluating
Q64: If you have a tendency to write
Q65: In a straight bankruptcy,you
A)lose everything.
B)must agree to
Q66: An overdraft protection line of credit
A)can be
Q67: A wage-earner plan is a form of
Q69: An argument against using credit is that
Q70: The advice "buy now and avoid future
Q71: You are considering prepaying an installment loan
Q72: Under the current law,lenders must meet quotas
Q73: You may want to avoid a variable
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents