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How can a parent who co-signs for a car for child transfer the credit for car paid in full and in good standing to that child?
Wiki User
∙ 16y ago
If the parent was a co-signer that means that both people have put their names on the car so it should contribute to the credit of both parties. It may take 30-90 days for the credit bureau to report it however. If it is not being reported on the child's credit it could be that the bank that financed it only reports on the main holders credit. You can find that out by calling your financing company's customer service line. Sometimes you can simply request that they report it if they are not already, but most of the time they will not start if they have not been previously. You can not transfer credit from one person to another. If they have not been receiving credit for it while the car was being paid for they will never be able to. That just isn't how it works. Sorry.
Wiki User
∙ 16y ago
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Does a 17 year old's credit rating increase if he cosigns a credit card with a parent. Does it matter if he is primary or the cosigner?
From what I understand any credit activities on a minor's name is illegal. You must be 18 to establish credit.
If a parent cosigns a loan that goes into default and the loan is paid in full what happens to the default status on the credit report can it be removed?
If in the US, then yes. The default will be replaced with paid in full. Simply send proof of the payment to the three credit bureaus.
If a parent cosigns on a car loan with hisher child and the child does not make payments can the stepparent be held responsible or have their credit rating impacted if the payments are not made?
The cosigner is responsible for the loan and payments if the signer does not pay or keep up the payments. Your credit rating can be affected.
Can a 17-year-old get an auto loan if a parent or guardian cosigns?
It depends on what state you are in. Call the bank or credit union your family deals with. Ask a loan officer if they will allow you to sign as primary with your parents as co-signers. Good Luck.
Car transfer from parent to child?
In order to do a car transfer from a parent to a child, the parent must sign over the car to the child. There must be a smog certification and a transfer fee must be paid.
Can a minor take out a loan if their parent cosigns and if so is the cosigner financially responsible for the signer?
Yes, your parents can cosign for a loan and if you are smart keep up the payments on that loan as it will give you a good and early credit record. If you don't keep up the payments it's a lousy thing to do to your parents, and they will be stuck paying that loan. Marcy
Does your bad credit rating affect your children if they live at the same address?
no it does not affect your children's credit rating. credit score is based on how an individual uses credit, not on how other people uses credit. what possibly may happen is children may learn thier parent's bad credit habits. if a consumer needs a co-signer (parent) then if the parent has a bad credit rating that will affect the loan
Where can you find out if a parent is drawing a check for a child of a disabeled parent and the child does not live with them?
That depends on who you (are you the other parent?) are so you need to add more details so we know if you have any legal standing in the matter.That depends on who you (are you the other parent?) are so you need to add more details so we know if you have any legal standing in the matter.That depends on who you (are you the other parent?) are so you need to add more details so we know if you have any legal standing in the matter.That depends on who you (are you the other parent?) are so you need to add more details so we know if you have any legal standing in the matter.
How can a teen petition a court over custody agreements?
If the case involves the teen's parents and custody of the teen then she/he has no standing to petition the court. A parent must do it for the child.If the case involves the teen's parents and custody of the teen then she/he has no standing to petition the court. A parent must do it for the child.If the case involves the teen's parents and custody of the teen then she/he has no standing to petition the court. A parent must do it for the child.If the case involves the teen's parents and custody of the teen then she/he has no standing to petition the court. A parent must do it for the child.
How do you cancel an accidental purchase on a parent's credit card?
The only ways to cancel an accidental purchase on a parent's credit card is to cancel the order from the producer/provider or cancel it through the credit card's business.
Can a parent pay off child s credit card with their card?
yes the parent can with their card
What university in India has credit transfer for overseas students?
Pondicherry University is the first university to introduce choice based credit system. Overseas students come to take courses or full semester here and earn credits which are transfered to any of the overseas parent university where the candidate is registered.
