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.

References in periodicals archive ?
The CFPB report recommends that prospective co-signers of student loans be provided counseling and communications from lenders and school financial aid officials that explain the liability they may be undertaking.
These summaries, sent to student borrowers and co-signers for the first time this month, will be issued annually to TruFit student loan borrowers.
Aniza Hendi Seamstresses, grocers, farmers, artisans and many others have successfully run businesses that support their families and provide needed services to the community.Criteria for the loans are that the recipient must be a woman, poor, have a viable idea for a new or existing business, and have co-signers to the loan.
He estimated that as many as 120 representatives will be co-signers of the bill by the time you read this.
To view the letter and its list of co-signers, visit the Additional Resources portion of the IFA Health Reform Toolkit at www.franchise.org by selecting Member Resources and then Government Relations.
A SMALLER SET of prospective residents, especially at higher-rent properties, but a better-qualified pool of applicants overall is resulting from the changes in the rental market as applicants double up, add co-signers or leave their apartments because of job loss.
As many as one-quarter of prospective renters entering the New York market every year do not meet the minimum financial requirements, and need credit enhancements like co-signers or additional security deposits to qualify.
employees, self-employed professionals, and non-salaried, high net worth individuals--all of whom require some type of credit enhancement such as co-signers or additional security deposits to qualify.
This hands-across-America movement could force our NAFTA co-signers to establish and enforce minimum health, labor, and educational standards and demand government transparency and respect for human rights in both Americas.
Significant numbers of aid administrators are encouraging the use of Parent PLUS loans and loan application co-signers, as well as building alternative lender lists.
As companies tighten their lending standards, "More students are going to need co-signers" on private loans, Kantrowitz said.
Also yesterday, in a letter to President Bush featuring co-signers from both sides of the aisle, Durbin urged Bush to recognize the acknowledge the importance of this issue by proposing a considerable funding increase for FDA's Foods Program in the fiscal 2009 budget.