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cosigner
[koh-sahy-ner, koh-sahy-]
noun
a cosignatory.
Finance.a joint signer of a negotiable instrument, especially a promissory note, who promises to repay the loan amount if the primary borrower cannot.
Finance, Banking.an additional signer on a checking or savings account who acts as a guarantor jointly responsible for overdraft and other fees, but who cannot deposit or withdraw money from the account.
Example Sentences
You can also ask for a cosigner if the prospective renter has a new credit history or if they work in an unstable profession.
The current bill has 23 other Republican senators as cosigners, but the issue has languished, seen as politically radioactive after Deal’s veto.
Sen. Dave Murman, a south-central Nebraska farmer who is chair of the Education Committee, introduced the anti-DEI bill that has garnered 13 cosigners who are among the most conservative in the body.
A cosigner is someone who has good credit.
Lenders will usually examine the credit history of a person who is acting as a cosigner.
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When To Use
A cosigner is an individual who signs a loan along with a primary borrower, promising to repay the loan amount if the primary borrower cannot. The addition of a creditworthy cosigner can normally help a borrower with limited or poor credit history to obtain a loan.Cosigner can also refer to an additional signer on a checking or savings account who can deposit and withdraw funds and who is usually jointly responsible with other signers on the bank account for any overdraft and other fees.The term is often spelled co-signer.
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