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    chamampathal's Avatar
    chamampathal Posts: 2, Reputation: 1
    New Member
     
    #1

    Jun 19, 2007, 11:52 AM
    Wittness sign
    I gave wittness sign for a secured loan application for a friend of mine.is there any liabilities or implications for me if my friend willnot pay the loan.please help
    Lowtax4eva's Avatar
    Lowtax4eva Posts: 2,467, Reputation: 190
    Ultra Member
     
    #2

    Jun 19, 2007, 11:56 AM
    To clarify, did you co-sign or sponsor this person for the loan? I'm not farmiliar with a witness signature, I assume you co-signed
    chamampathal's Avatar
    chamampathal Posts: 2, Reputation: 1
    New Member
     
    #3

    Jun 19, 2007, 11:59 AM
    Quote Originally Posted by chamampathal
    I gave wittness sign for a secured loan application for a friend of mine.is there any liabilities or implications for me if my friend willnot pay the loan.please help
    I just signed in the box wittness sign.I think I signed as a witness to the applicant sign.did,t read the full list of thinks in application
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #4

    Jun 19, 2007, 12:27 PM
    If all you did was witness the signature, then you have no obligation on the loan. You might be contacted by someone trying to trace your friend if she defaults, but you, yourself have no liability.

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