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How much does a repossessed car affect your credit if you are only a cosigner?
Wiki User
∙ 17y ago
Hello, Jamison here, On credit score==EXACTLY THE SAME You CAN try to explane it to the lender, They will listen but they wont care too much,, If its NOT REPO'd Yet put A foot in someones Behind side!!!!!!!!!!!!! If its REPO'd== MAKE THEM PAY IT OFF!!!! This is what the bank wants, And this is the real reason they want A cosigner in the first place.
Wiki User
∙ 17y ago
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If your car was repossessed but redeemed by the cosigner can the bank report a repossession on your credit but not on the cosigner's?
VERY possible. reporting repos is up to the LENDER(of course, they usually do). It was very much repoed from you sooo. Nothing you can do about the co-signor having or not having a repo on their credit.
How much would it hurt your credit if the car you co-signed for gets repossessed?
Just the same as if it was your car repossessed. Legally, you hold the same liability as the primary buyer.
How to get a decent student loan with bad credit but has a cosigner to help?
Government student loans. Some companies also offer contracts to those with bad credit, but the interest is much much higher.
If someone with good credit cosigns for someone with bad credit will the cosigner's score decrease much?
That is a variable, it could put you in a maxed out situation where you couldn't get a loan for yourself. You only have so much credit to use. Good Luck
If you have a cosigner on your apartment lease will your credit be affected as much as it would if you did not have a cosigner?
Renting an apartment or home will not show up on your credit. That just builds up rental history for yourself. The only time a renter will ever report you to a credit agency is if you move out with a balance that was not paid within 14 to 30 days of your move out.
Does the primary borrower receive any benefit to their credit rating when there is a cosigner on the loan?
This debt will appear on your credit report as a joint debt. It will bare just as much weight on your credit report as if it were in your name alone.
Do average college freshmen need a cosigner when getting Chase student loans?
Most freshman will in fact need a cosigner for loans. The need of a cosigner is dependent on how much good credit history the student has available. So, if for example the student was in their late 20's and had successfully paid all debt prior they would not need a cosigner.
Is it possible to get a real estate loan if you have poor credit?
It is possible to get a real estate loan with poor credit, but much harder than it used to be before 2008. You will have a much higher interest rate, and may need a cosigner.
How much does it drop your credit to pull a credit score?
It doesn't affect it at all.
What are some FHA mortgage requirements and how does credit affect the amount of loan you are able to get?
Some FHA mortgage requirements are being employed and having a decent credit score. Your credit doesn't affect the amount you can be loaned as much as how much money you make.
Can you marry someone and not have your bad credit affect their credit?
Credit scores are individual and your marriage to someone with a lower credit score than yours will not affect your credit score. Credit scores are based on how much debt you owe versus how much credit you have available, how you make your monthly payments, etc. It has nothing to do with your spouse's credit. That said, their poor credit may affect your ability, as a couple, to get the best rates on credit that you seek together, e.g. if you attempt to buy a house together. It wouldn't impact your personal credit, but it would impact the loan offer you receive.
Can you refinance your car without a cosigner if your current loan has a cosigner?
if you take it to your personal bank and ask them how much you need to have paid already they can indeed refinace you and remove the cosigner
