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'''Co-signing''' is when someone agrees to be jointly responsible for a debt with another person. This is different from signing a '''guarantee''', which is a promise to pay the debt of another person if they default on the debt. | '''Co-signing''' is when someone agrees to be jointly responsible for a debt with another person. This is different from signing a '''guarantee''', which is a promise to pay the debt of another person if they default on the debt. | ||
== Client problems == | == Client problems== | ||
* | *Client has been asked to be a “co-signer” for a debt and wants to know what legal responsibilities are involved. | ||
*Client co-signed a loan and wants to know their rights because the other party defaulted and the creditor is demanding payment from the client. | *Client co-signed a loan and wants to know their rights because the other party defaulted and the creditor is demanding payment from the client. | ||
*Client and spouse have separated, and the client wants to know what to do about joint debts, such as credit cards. | *Client and spouse have separated, and the client wants to know what to do about joint debts, such as credit cards. |
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