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I.B.E.W. LOCAL #56 FEDERAL CREDIT UNION COMAKERS STATEMENTNAME:___ ACCOUNT #:___ FIRSTMIDDLE INITIALLASTADDRESS:___ NOTE #:___ CITY:___STATE:___ZIP:___PHONE:(___) ___DATE OF BIRTH:___SOCIAL SECURITY

How to fill out co-maker statement

How to fill out co-maker statement

1. Begin by stating your full name and contact information at the top of the co-maker statement.
2. Clearly identify the purpose of the co-maker statement, such as guaranteeing a loan or co-signing on a lease agreement.
3. Provide a detailed description of the terms and conditions of the agreement that the co-maker statement is supporting.
4. Include any necessary legal language or clauses that protect the rights and obligations of the co-maker.
5. Sign and date the co-maker statement at the bottom to indicate your agreement with its contents.
6. Make a copy of the co-maker statement for your records and submit the original to the relevant party or institution.
7. Keep a copy of any related documents or agreements that are referenced in the co-maker statement.

Who needs co-maker statement?

1. Co-maker statements are typically required by lenders or landlords who want additional security or assurance when approving a loan or rental agreement.
2. Individuals who have limited credit history or are considered high-risk borrowers may be asked to provide a co-maker statement.
3. Students or young adults without established credit may also need a co-maker statement when applying for loans or leases.
4. Businesses may require co-maker statements when entering into partnerships or joint ventures to guarantee the fulfillment of contractual obligations.

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What is co-maker statement?

A co-maker statement is a document usually signed by someone who agrees to be responsible for repaying a loan if the original borrower defaults.

Who is required to file co-maker statement?

The individual or entity who is willing to act as a co-maker for a loan is required to file a co-maker statement.

How to fill out co-maker statement?

The co-maker statement should be filled out with accurate information regarding the co-maker's personal details, financial information, and willingness to assume responsibility for the loan.

What is the purpose of co-maker statement?

The purpose of a co-maker statement is to provide assurance to the lender that there is a secondary party who is willing to repay the loan if the primary borrower is unable to do so.

What information must be reported on co-maker statement?

The co-maker statement must include the co-maker's full name, contact information, financial details, and a statement of willingness to be the co-maker for the loan.