Co-debtor

 

Meaning of the word: Co-debtor

Co-debtor is a person who is willing to participate in the debt repayment, together with the debtor up to 100% of the amount due. Co-debtor has the same rights and obligations as a debtor and is also the guarantor, because in the case that a debtor is unable to meet the commitment, the co-debtor takes this obligation.

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Interest rate

The interest rate is a percentage increase of the debt for a period. The interest rate is usually fixed for one year. Interest is a reward for the…

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