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What is a cosigner?

A cosigner is someone who promises to pay a debtor’s debt if the debtor does not pay it. Common examples of cosigners are parents cosigning a college student’s apartment lease and relatives cosigning a loan if the debtor has poor credit. The term “cosigner” refers to the fact that the cosigner signs the contract along with the debtor, and so the cosigner is obligated to pay any unpaid balance of the obligation.

Barry Rosenzweig
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Barry Rosenzweig, has 25 years experience as an attorney helping clients solve their legal problems.