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If you are signing for someone and they pay late it goes on your credit report as a late pay. Also if the person can not pay the rent you are liable to.
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∙ 16y ago
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Can a friend of mine cosigning a apartment hurt her chance on buying a house?
no dont worry it has no effect
Is a non custodial parent responsible for cosigning when the custodial parent can't get an apartment on her own?
no
Will cosigning a loan effect your ability to get a loan?
Yes, it will affect your debt to income ratio.
If you're a senior in high school and next fall you and two of your friends want to get an apartment together what is the cosigning process?
It depends on who is doing to the cosigning and how old you are. If it is just you and your potential roommates, then you just need to find an acceptable apartment and sign the lease prepared by the landlord. If you are asking your parents to cosign or guarantee payment if you default, then the landlord can add some simple language to cover this situation.
Would cosigning for your son's apartment rental agreement be viewed the same as cosigning for an actual loan when applying for future credit assuming all payments are made on time?
Co-signing means that you accept 100% financial liability for the contract in question. The manner in which the contract is adhered too has equal impact on your credit.
Does cosigning for a vehicle lease obligate you to other debts the person has?
No. It will become a part of your credit report and will have some effect on your debt to income ratio.
How does cosigning for a car loan affect your credit?
No.
What do you need to co sign for a car in Florida?
There is not a strict set of requirements for cosigning. You will need to be over 18 and the lender will need to believe you are a good credit risk. This is based on your credit score. You should be concerned with the obligations cosigning a car loan will create for you. See the Related Link for "Experian: Advice on Cosigning a Loan" for info on this.
What do you need to co-sign for a car in Florida?
There is not a strict set of requirements for cosigning. You will need to be over 18 and the lender will need to believe you are a good credit risk. This is based on your credit score. You should be concerned with the obligations cosigning a car loan will create for you. See the Related Link for "Experian: Advice on Cosigning a Loan" for info on this.
How do you repair the damage on your credit report from cosigning a bad loan?
TIME!
Why does cosigning lower your credit score?
Because you have taken on the risk of a deadbeat.
If you co-sign for a friend to get an apartment are you still able to sign a lease for yourself before your friend's lease is expired?
All cosigning means is you are responsible for any rent that person refuses to pay, or any damage so there is no reason you can't sign a lease for a place of your own. Marcy
