Co-Signing Loans Jacksonville FL

If you have good credit, you may be asked to co-sign for a loan in Jacksonville at some point. Perhaps your child needs to borrow money to buy her own car but has never had any credit in her name. Or maybe your cousin is recently divorced and needs to borrow money to make a new start.

Wells Fargo - San Marco
(866) 245-3452
1562 Atlantic Blvd
Jacksonville, FL
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

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SunTrust - South Bank Branch
(800) 786-8787
1300 Riverplace Blvd
Jacksonville, FL
ATM Fees
monthly fee: Monthly service fees range from $0 to $25.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM after 2 uses per month. (Fee does not apply to all accounts.) (Not all accounts provide this fee waiver.)
ATM Fee Rebate Noe: Some accounts provide rebates of ATM Surcharge Fees. Contact SunTrust for details.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

Data Provided by:
Wells Fargo - Beach Boulevard Branch
(866) 245-3452
5622 Beach Boulevard
Jacksonville, FL
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

Data Provided by:
Bank of America - San Marco Branch
(800) 432-1000
2011 San Marco Boulevard
Jacksonville, FL
ATM Fees
monthly fee: Monthly service fees range from $0 to $25.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.00 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided by:
Wells Fargo - Riverplace Tower Office
(866) 245-3452
1301 Riverplace Boulevard
Jacksonville, FL
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

Data Provided by:
BBVA Compass Bank - Jacksonville Southside Branch
(800) COM-PASS
3740 Beach Boulevard
Jacksonville, FL
ATM Fees
monthly fee: Monthly service fees range from $0 to $20.00. See institution about how these monthly fees can be waived.
ATM Fee Rebate Noe: BBVA Compass Bank rebates ATM Surcharge Fees. Contact the institution for details.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

Data Provided by:
BBVA Compass Bank - Jacksonville Lakewood Branch
(800) COM-PASS
5992 Saint Augustine Road
Jacksonville, FL
ATM Fees
monthly fee: Monthly service fees range from $0 to $20.00. See institution about how these monthly fees can be waived.
ATM Fee Rebate Noe: BBVA Compass Bank rebates ATM Surcharge Fees. Contact the institution for details.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

Data Provided by:
TD Bank - River Place Branch
(888) 751-9000
1200 Riverplace Boulevard
Jacksonville, FL
ATM Fees
monthly fee: Monthly service fees range from $0 to $24.00. See institution about how these monthly fees can be waived.
ATM Fee Rebate Noe: TD Bank rebates ATM Surcharge Fees. Contact the institution for details.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided by:
Regions Bank - San Marco Branch
(800) 734-4667
1600 Hendricks Avenue
Jacksonville, FL
ATM Fees
monthly fee: Monthly service fees range from $0 to $20.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2 fee each time you use an ATM that's not a Regions ATM. (Fee does not apply to all accounts.)
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Activity Download, Free Checks, Unlimited Checks

Data Provided by:
Wells Fargo - Phillips Highway Branch
(866) 245-3452
3650 Phillips Highway
Jacksonville, FL
ATM Fees
monthly fee: Monthly service fees range from $0 to $30.00. See institution about how these monthly fees can be waived.
ATM fee note: There is a $2.50 fee each time you use a non-affiliated ATM.
Services
Mobile & Text Banking, Debit Reward Programs, Overdraft Protection, Email Alerts, Online Bill Pay, Free Checks, Unlimited Checks

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Co-Signing Loans

co sign loansFor those with flawed or non-existent credit records, it can be quite difficult to borrow money. In many cases, the only way for them to do so is to obtain a co-signer. This allows the lender the opportunity to collect from someone with a better credit record if the borrower defaults.

If you have good credit, you may be asked to co-sign for a loan at some point. Perhaps your child needs to borrow money to buy her own car but has never had any credit in her name. Or maybe your cousin is recently divorced and needs to borrow money to make a new start. Whatever the reason may be, it’s important to know the potential consequences of co-signing for a loan before you go through with it.

Co-signing subjects you to a number of risks, including the following:

  • If the borrower misses payments, your credit could be adversely affected. Even though you’re not the one making the payments, you’re still on the hook for them. And in most cases, the lender is not required to notify a co-signer of missed payments. Your credit rating could be taking a nosedive through no fault of your own and without your knowledge.

  • The lender is not required to attempt to collect the debt from the borrower before going after the co-signer. The bills and late notices may come to the borrower, but if there is a default, the co-signer may be the one who starts receiving calls from a collection agency. Lenders know that they are more likely to receive payment from someone with good credit, so use their resources to pursue the co-signer rather than going after someone who is less likely to pay up.

  • Co-signing for a loan can prevent you from borrowing money for yourself. Even if the borrower makes every payment on time, the outstanding balance is displayed on your credit report. This raises your debt-to-income ratio, and could result in denial of credit when you need it.

  • If the borrower fails to repay his debt and you can’t pay it for him, you could lose your property. The lender could take any collateral that you put up for the loan and sell it. Even if property obtained with the loan is repossessed, you could still be liable for the difference between the selling price and the amount owed. If you don’t pay, the lender may be able to put a lien on your home or garnish your wages.

  • Co-signing a loan for anyone is risky business. Lenders require a co-signer because they do not believe that the borrower will repay the loan, and in many cases, they’re right. Before you sign on the dotted line, think about the ramifications. You might be helping someone you care about in the short term, but it could seriously damage your relationship (and your credit record) in the long term.

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