Credit Reports
Improving Your Credit Rating

If you and your wife cosigned a loan for your daughter and her husband to buy a house and they made several late payments and it has since been sold and paid off how do you fix your credit?


User Avatar
Wiki User

Time is the best cure. The item will not have an impact on your credit report after 25 months from the date of payoff. Sorry. You may also do a letter of explanation, but since you signed on the debt it made you as liable as your daughter.