Barbara has a good credit history and is able to purchase a car with a low-interest car loan. She co-signs a car loan for her friend Jen, who has poor credit history. Then, Jen defaults on the loan. Who will be held legally responsible by the finance company and why? A.

Barbara will be held legally responsible because she has a good credit history.

B.

Jen will be held legally responsible because she drives the car.

C.

Barbara will be held legally responsible because she is the co-signer.

D.

Jen will be held legally responsible because she has a poor credit history.

Question

Mathematics

Keely Parrish

27 February, 11:14

Barbara has a good credit history and is able to purchase a car with a low-interest car loan. She co-signs a car loan for her friend Jen, who has poor credit history. Then, Jen defaults on the loan. Who will be held legally responsible by the finance company and why? A.

Barbara will be held legally responsible because she has a good credit history.

B.

Jen will be held legally responsible because she drives the car.

C.

Barbara will be held legally responsible because she is the co-signer.

D.

Jen will be held legally responsible because she has a poor credit history.

+3

Answers (2)

Know the Answer?

Deon Vaughn · Answer 1

C.

Barbara will be held legally responsible because she is the co-signer.

Step-by-step explanation:

C.

Barbara will be held legally responsible because she is the co-signer.

Antoine Rollins · Answer 2

Antoine Rollins 27 February, 14:19

0

For PLATO users it is C #platofam