Cosigner: meaning, definitions and examples
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cosigner
[ ˈkoʊˌsaɪnər ]
financial agreement
A cosigner is someone who agrees to pay off a loan if the primary borrower fails to do so. Cosigners are often used to help individuals with poor credit history qualify for a loan.
Synonyms
Examples of usage
- Her father acted as a cosigner on her car loan.
- The bank required a cosigner for the student's loan.
- The cosigner's credit history is also taken into consideration by the lender.
- Having a cosigner can increase the chances of loan approval.
- If the primary borrower defaults, the cosigner is responsible for the debt.
Translations
Translations of the word "cosigner" in other languages:
🇵🇹 co-signatário
🇮🇳 सह-हस्ताक्षरकर्ता
🇩🇪 Mitunterzeichner
🇮🇩 penandatangan bersama
🇺🇦 співпідписант
🇵🇱 współsygnatariusz
🇯🇵 共同署名者
🇫🇷 cosignataire
🇪🇸 cofirmante
🇹🇷 ortak imzalayan
🇰🇷 공동 서명자
🇸🇦 موقّع مشارك
🇨🇿 spolupodepisovatel
🇸🇰 spolupodpisovateľ
🇨🇳 共同签署人
🇸🇮 sopodpisnik
🇮🇸 meðundirritandi
🇰🇿 қосымша қол қоюшы
🇬🇪 თანამსწე
🇦🇿 birgə imza atan
🇲🇽 cofirmante
Etymology
The term 'cosigner' originated in the financial industry in the early 20th century. It is a combination of 'co-' (meaning together or jointly) and 'signer' (referring to someone who signs a document). Cosigners play a crucial role in helping individuals secure loans, especially when they have a poor credit history.
See also: ensign, sign, signage, signal, signatory, signature, signer, significant, signify, signing, signs.