If You Cosign a Loan

question 35

Multiple Choice

If you cosign a loan:

• A)you are only responsible for half of the debt obligation.
• B)you will be asked,but not required,to pay the loan in full if the borrower fails to pay.
• C)you will be required to pay the loan in full if the borrower does not pay.
• D)the creditor must first try to collect from the borrower.
• E)the creditor is prohibited from garnishing your wages if you refuse to pay the loan in full.

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