Can someone who doesn't qualifiy for a loan legaly be a co-signer for someone?

[Fallout]

If someone that doesn't qualifiy for a loan on thier own legaly be a co-signer for someone?

I know this is a little off-topic but I am really in a pickle here. My Mother just declared bankruptcy and I am on the list for our computer which we have has a second contract. Apparently when I signed up to be that though, I became a co-signer. Now that she is declaring bankruptcy, the company is coming after me for the money which I can't afford to pay them (I am trying to save money to go to college, I am out of work ect.). My question is that can I legaly of been allowed to be a co-signer for her? Because I needed her to get me this loan because I tried and was turned down on my own. How can I be a co-signer if I don't qualify for the loan? I only wanted to be a second contact on the loan. This loan was hers. Now I know thats not really a legal defence, so I am trying to find one.

I am sorry if this is a little off-topic but I am losing sleep over this. Thank you in advance.


Fallout

[HRx]

If someone that doesn't qualifiy for a loan on thier own legaly be a co-signer for someone?

I know this is a little off-topic but I am really in a pickle here. My Mother just declared bankruptcy and I am on the list for our computer which we have has a second contract. Apparently when I signed up to be that though, I became a co-signer. Now that she is declaring bankruptcy, the company is coming after me for the money which I can't afford to pay them (I am trying to save money to go to college, I am out of work ect.). My question is that can I legaly of been allowed to be a co-signer for her? Because I needed her to get me this loan because I tried and was turned down on my own. How can I be a co-signer if I don't qualify for the loan? I only wanted to be a second contact on the loan. This loan was hers. Now I know thats not really a legal defence, so I am trying to find one.

I am sorry if this is a little off-topic but I am losing sleep over this. Thank you in advance.


Fallout

Hi,

You were most likely just a co-applicant for the loan. Co-signers, are simply a form of gaurantee to a lender that has approved a loan for an individual that has little or no credit history.

If you were a co-applicant, and supplied the lender with all your personal info, e.g. name, dob, ss etc and signed on the application, you are contractually co-responsible for the debt/loan.

Good Luck!