No. You would be reporting to the credit agencies that this person was late in paying. You probably should take them to small claims court to obtain a judgment against them. You should, if you win, ask for the court to do a study as to their ability to pay (in Arizona it is called a writ of execution).
If it does report it will show that you are just an authorized user, most cards don't even report authorized users anymore.
Before a person can get an instant credit approval most creditors will check a persons credit score and current income. In order for approval it must meet certain criteria based on the individual creditors requirements.
In order to report information to the credit bureaus, a company or individual would have to become a contributing client of the bureaus. There is an expense involved and there are also federal statutes which must be followed. So, for the most part, private individuals do not report to the major credit reporting agencies.
usually this is because the original lender sold the account to a new lender which takes on the loan/debt, but the paper trail is still left on a persons credit report. If a company goes out of business they also liquidate their assets/accounts to another creditor. It also can be because the person did not pay on the account and it was sold to another creditor or a collection company. The most rare case would be that there is a mistake on a persons credit file and should contact the credit report company.
Every individual has a line of credit. This line of credit is what determines your credit score and what will be used to approve or deny you credit cards or loans.
Yes, if the association won the judgement.
If it does report it will show that you are just an authorized user, most cards don't even report authorized users anymore.
There are no legally established parameters on this matter. The individual Credit Reporting Bureaus are private corporations which maintain their own internal criteria for these things.
Before a person can get an instant credit approval most creditors will check a persons credit score and current income. In order for approval it must meet certain criteria based on the individual creditors requirements.
The benefits of an private mortgage are that in some cases you need provide fewer documents when applying and private lenders normally only look an persons credit score to determining if to lend or not based on how your handled your previous repayments to previous loans.
In order to report information to the credit bureaus, a company or individual would have to become a contributing client of the bureaus. There is an expense involved and there are also federal statutes which must be followed. So, for the most part, private individuals do not report to the major credit reporting agencies.
usually this is because the original lender sold the account to a new lender which takes on the loan/debt, but the paper trail is still left on a persons credit report. If a company goes out of business they also liquidate their assets/accounts to another creditor. It also can be because the person did not pay on the account and it was sold to another creditor or a collection company. The most rare case would be that there is a mistake on a persons credit file and should contact the credit report company.
Every individual has a line of credit. This line of credit is what determines your credit score and what will be used to approve or deny you credit cards or loans.
A private mortgage holder normally does not belong to a credit bureau; therefore, can not report credit activity to a credit bureau..
A co-signer is a person that will make a promise to pay off another persons debt if they default on it. Many banks, realtors and landlords will require a co-signer if a person has bad credit or has no credit.
Unless you work for an attorney or someone who can legally pull other's reports, it is illegal and not easy to pull another persons credit report. You can't legally do so.
If you are an authorized user of another persons credit it has no effect on your credit at all. It will not raise nor lower your score. The credit card company simple issues you a card with your name on it and then holds the person who holds the credit with them responsible for any charges you make.