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Whenever the lending institution wants one. Basically, if the primary applicant has no credit history, or a poor credit history, lenders may require that someone with a longer/better credit history cosign.
Yes. It depends on their credit history and willingness to co-sign and take responsibility for your loan.
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
Yes, someone on the social security can be able to cosign for a loan. The person cosigning the loan however has to have good credit regardless of his availability on the social security benefit.
Yes, a person without a job can cosign on a car loan. However, the person must have great credit before they can cosign.
A lot of creditors will not accept a co-sign from someone with no credit. They want proof that if the person who takes out the loan defaults, the co-signer will have the credit funds available to pay off the loan.
Most business require atleast a 680-700 credit score to be a co-signer.
Yes.
No. It doesn't come off until the loan is paid and if the person who is getting the loan doesn't pay you will owe for the loan. When you cosign it also goes on your credit report.
Yes. My boss owned a home and co-signed for me. It all depends on your credit. Yes
No they won't.
Yes. Just have the co-signer with the better credit score fill out the application as the first applicant. They won't necessarily even run a credit report on the second applicant.