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If someone with good credit cosigns for someone with bad credit will the cosigner's score decrease much?
Wiki User
∙ 12y ago
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
Wiki User
∙ 12y ago
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If someone cosigns a loan for you will it show up on their credit report?
yes
If your spouse co-signs for someone will it affect your credit too?
No, your credit rating is separate from your spouse. If he or she cosigns it will only effect his or her credit rating.
Which credit cards let you have cosigners?
i have no idea
If someone cosigns on a vehicle loan does it affect that their credit?
Yes. If the original borrower defaults, and the cosigner is unable to take over the debt.
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.
If someone cosigns a loan for you will it show up on their credit report?
yes
If your spouse co-signs for someone will it affect your credit too?
No, your credit rating is separate from your spouse. If he or she cosigns it will only effect his or her credit rating.
When your Father passed away how bad will a car repossession affect a cosigners credit?
It depends on how your father's death, the repossession, and the cosigners credit are corelated.
Which credit cards let you have cosigners?
i have no idea
If someone cosigns on a vehicle loan does it affect that their credit?
Yes. If the original borrower defaults, and the cosigner is unable to take over the debt.
If the cosighner stops making payments on car loan but has the car and wont return it?
both owner cosigners credit will be affected both owner cosigners credit will be affected
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.
Will it reflect on my credit if my father cosigns on a loan with me?
Yes, it will report equally.
Where can someone apply for a mortgage that has a bad credit history?
If one has a bad credit history, it is still possible to get a mortgage. If one cosigns for a loan with someone else, they have a better chance. One should also attempt to improve their credit. Wells Fargo, Quicken Loans, and many other places offer mortgages.
Does breaking a lease hurt cosigners credit?
That is why the cosigner is there. To back up the contract if you bail.
Can a cosigner have bad credit?
Generally speaking no. Cosigners are needed for a purpose, and most often it is because the primary debtors has bad credit.
Is someone cosigns for you does it help your credit or theirs if payments are made on time?
It will be reported to the credit bureaus under both names, but will have a greater effect on the primary borrower's report. If payments are made on time, it will never indicate which party actually made the payment.
