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It's up to the lender.
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∙ 16y ago
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Can a new business owner cosign for a loan in his business name and what effect will it have if the borrower defaults on the loan?
Cosigning for a loan is dangerous to do. A true business loan should be under a business name itself, a personal guantee may be required in some situations. To build business credit search for a mentoring service online.
Wife and you on car loan now divoced can you get off loan?
I am dealing with my own drama in a cosign arrangement. I have found that the only way to get your name off of the loan is to have her get a new loan through refinance.
Can you get an easy bank loan for a new car?
Getting an easy bank loan for a new car will depend on your credit rating. If your credit rating is Good or above, you would easily qualify for a loan. If your credit rating is not very good, then you are unlikely to qualify for a loan.
Will opening a new credit card affect your credit rating?
Yes. Any new credit account or loan will effect your rating.
How soon can you remove your name as a cosign for a house?
As soon as the loan is paid off. The only way for a cosigner to "remove his name" is to pay off the loan. Since refinancing pays off the original loan (and creates a new one), this would provide an opportunity for the co-signer to opt not to co-sign the new loan.
Can a new business owner cosign for a loan in his business name and what effect will it have if the borrower defaults on the loan?
Cosigning for a loan is dangerous to do. A true business loan should be under a business name itself, a personal guantee may be required in some situations. To build business credit search for a mentoring service online.
Wife and you on car loan now divoced can you get off loan?
I am dealing with my own drama in a cosign arrangement. I have found that the only way to get your name off of the loan is to have her get a new loan through refinance.
Can you get an easy bank loan for a new car?
Getting an easy bank loan for a new car will depend on your credit rating. If your credit rating is Good or above, you would easily qualify for a loan. If your credit rating is not very good, then you are unlikely to qualify for a loan.
Will opening a new credit card affect your credit rating?
Yes. Any new credit account or loan will effect your rating.
How soon can you remove your name as a cosign for a house?
As soon as the loan is paid off. The only way for a cosigner to "remove his name" is to pay off the loan. Since refinancing pays off the original loan (and creates a new one), this would provide an opportunity for the co-signer to opt not to co-sign the new loan.
What tips are there to help someone create an A plus credit rating?
Make all your payments ON TIME EVERY TIME, only be using about 20-30 percent of your available credit at any given time. Keep credit inquiries (when you apply for a new card or loan) to a minimum and most importantly NEVER cosign with anyone unless you are 100 percent sure they are trust worthy.
Can one person on the loan trade it in without the other signing off?
As long as you weren't a registered owner. If they trade the car in, then the trade should be paid off by the dealer where they bought the new car. This is actually good for you, since I'm assuming you didn't cosign the newest car loan. You're off the hook.
Which is an example of a person using credit in order to obtain something?
Adam goes to a car dealer and gets a loan to buy a new car. ( STUDY ISLAND)
Can a new loan boost your credit score in a month?
Typical a new loan will temporally reduce your credit score. This is due to the fact you are taking on new debt which most often means your income to debt ratio is higher.
I am going to get a loan for a new truck. My father is going to cosign for me. Since he is the cosigner is it legal for him to take the truck from me if he wishes?
Yes, because if you do not make the payments, the missed payments affect his credit report. If you want to own a truck, then buy one using your own cash or credit ability. If you are still a minor, then he has the right and responsibility to help you manage your life so that your are safe.
How does a persons credit score affect mortgage credit rates?
Actually the better the credit score the better are the offers for a mortgage credit loan. In general the interests offered for a new loan depend (besides others) directly on the credit score.
What is your new car interest rate?
That depends on your credit rating and the lender you get the loan from. credit score 745
