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Which of these criteria make a person a good cosigner? They have a steady job They have many debts They pay their bills late They rent an apartment

Problemas

Which of these criteria make a person a good cosigner?
They have a steady job
They have many debts
They pay their bills late
They rent an apartment

Which of these criteria make a person a good cosigner? They have a steady job They have many debts They pay their bills late They rent an apartment

Solución

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Armandoélite · Tutor durante 8 años
expert verifiedVerificación de expertos
4.3 (387 votos)

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'They have a steady job'

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## Step 1<br />A cosigner is a person who agrees to pay a borrower's debt if the borrower defaults on the loan. The cosigner is not the primary borrower, but they are equally responsible for the debt.<br /><br />## Step 2<br />The ideal cosigner is someone who has a steady job. This is because a steady job indicates financial stability, which is a desirable trait in a cosigner. A steady job means that the cosigner has a consistent income, which can be used to pay off the debt if the primary borrower defaults.<br /><br />## Step 3<br />On the other hand, having many debts or paying bills late are not desirable traits in a cosigner. These behaviors indicate financial instability, which can increase the risk of default.<br /><br />## Step 4<br />Renting an apartment is not a criterion that makes a person a good cosigner. Whether a person rents an apartment or owns a home does not affect their ability to cosign a loan.
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