If You Cosign a Loan,the Creditor Can Collect This Debt

question 78

True/False

If you cosign a loan,the creditor can collect this debt from you without first trying to collect from the borrower.

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Definitions:

Regressive Tax

A tax applied uniformly, taking a larger percentage of income from low-income earners than from high-income earners.

Proportional Tax

A taxation structure where the rate of tax stays the same, no matter the taxable amount.

Retail Sales Tax

A tax imposed on the retail price of goods and services paid by the consumer at the point of sale.

Easily Shifted

A descriptor for economic burdens or benefits that can be transferred or moved easily from one party to another.