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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.
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∙ 15y ago
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Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
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.
Can someone without a job co-sign on a car?
Yes, a person without a job can cosign on a car loan. However, the person must have great credit before they can cosign.
If cosigner has a car loan already may she cosign for someone and be approved for that person and the cosigner has good credit?
Yes.
Can someone cosign a mortgage if they already have a mortgage of their own?
Yes. My boss owned a home and co-signed for me. It all depends on your credit. Yes
Can you have a person with new credit cosign your loan?
It's up to the lender.
Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
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.
Can someone on social security benefit's cosign for a loan?
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.
Can someone without a job co-sign on a car?
Yes, a person without a job can cosign on a car loan. However, the person must have great credit before they can cosign.
What credit score is needed to cosign for someone else?
Most business require atleast a 680-700 credit score to be a co-signer.
If cosigner has a car loan already may she cosign for someone and be approved for that person and the cosigner has good credit?
Yes.
Can someone you live with cosign an auto loan?
Yes. It depends on their credit history and willingness to co-sign and take responsibility for your loan.
How many time can you cosign a car?
how many times can someone cosign a car
If i cosign a car for someone will my name come off in a year?
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.
Can someone cosign a mortgage if they already have a mortgage of their own?
Yes. My boss owned a home and co-signed for me. It all depends on your credit. Yes
Can someone cosign with disability?
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.
Can a spouse with good credit cosign a student loan for their spouse with bad credit?
That is decided by the LENDER.
Can you have a person with new credit cosign your loan?
It's up to the lender.
