Cosigner

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Cosigner

An obligor—a person who becomes obligated, under a Commercial Paper, such as a promissory note or check—by signing the instrument in conjunction with the original obligor, thereby promising to pay it in full.

The cosigner may be held equally responsible for the payment of the debt or may be required to pay only upon the failure of the original obligor to do so, depending upon state law and the terms of the agreement that also determine the rights of the cosigner.

Cosigner is synonymous with the term comaker.

See: comaker
References in periodicals archive ?
Fynanz uses the FICO score of the signer and the co-signer along with the member's probability of graduation.
The loans also require a parent to co-sign, and only if the student establishes good credit and has a good grade point average will the co-signer be lifted for the last two years the student is in school.
Fynanz looks at the FICO score of the signer and co-signer and the member's probability of graduation by examining the students major, years of study and grade-point average.
Protection for Youth - To get a credit card, those under 21 must either prove an independent income or have a co-signer over 21.
Consumers younger than 21 must show proof of income to repay card loans or have an adult co-signer if they want accounts in their own names.
The new reforms that take effect in February prevent issuers from extending credit to those younger than 21 unless they show they have the means to pay the bills or they have a co-signer, such as a parent.
For many young college students, their parents will be the co-signer for a new credit card.
Those who apply for pre-approval have the option to file as a single or joint applicant with an eligible co-signer, depending on preference.
VSA is asking Northridge to act as a co-signer on the loan.
Fynanz looks at the FICO score of the both the signer and co-signer, the students probability of graduation, years of study and grade-point average.
The new law forces a change because it forbids credit cards offers to people under age 21 without an adult co-signer.
The documents show his mother has become the co-signer on the loan for the new vehicle.