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It will appear on the CR of both parties.

2006-09-20 12:54:09
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Q: If you get a cosigner when purchasing a car will it show up in your credit report or the cosigner's credit report?
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Is co-signer's credit affected if loan is not approved?

The cosigner evidently didn't have great credit either, since the loan didn't get approved. It will still reflect on the cosigners credit report that they applied for a loan. Multiple inquiries will reduce your credit score.


Can you remove a repossession off your credit report if your cosigner has a judgment on the repossession?

No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.


How long does it take to hit your credit report after purchasing a vehicle?

It takes at least six months to hit your credit report after purchasing a vehicle.


IIf you obtain a loan with a cosigner after a discharged bankruptcy will the loan show up negatively on the cosigners credit if your payments are on time?

As long as the debtor makes payments on time, this would not reflect negatively on your co-signers credit. Co-signing will show on their credit report as debt as a co-signer guarantees repayment of the loan if the debtor defaults.


What effect does a student loan have on a cosigner and the cosigners credit?

When you cosign on a loan, you are liable for payment of that loan if the other person does not make payments. Any late payments and other negatives will be reflected on your credit report. The debt will be included in your debt-to-income ratio. If the person makes all payments on time, it could actually help your credit score. Usually, it's the other way around, though. Bottom line: as a cosigner, you are treated as a signer.


Who do you contact for a cosigner information to show up on their credit report?

You don't have to contact anyone. The lender will report information on the primary borrower, cosigner, joint owner, guarantor, and other relationships.


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.


Will balances still appear on your credit report after taking out a loan for your sister and letting her use your credit cards if she can't get credit on her own and you have to co-sign?

Yes, as a cosigner you will be responsible for the debt, so it will reflect on your credit report.


Where can I obtain a free copy of my credit report without purchasing credit protection?

To get your free credit report log on to a website such as FreeCreditReport.com. Be alert, that if you request your credit report too often your credit will be affected, it's a Catch 22.


If one files bankruptcy and has a co-signer will if affect their credit rating?

If the account the cosigner is on is included in the bankruptcy it will appear on their credit report. In most cases the cosigner will not be relieved of the debt when the primary holder files for bankruptcy. The creditor(s) can then pursue the cosigner for the collection of money owed.


When you cosign for a vehicle will it be on your credit report and therefore effect the cosigner when they attempt to make a major purchase in the future?

Yes, all action on the part of the primary borrower will be reflected on the cosigner's credit report.


Can a credit provider report a guarantor to credit reporting agencies based on the defaults committed by the principal?

If you're talking about a cosigner, then yes. The cosigner's credit gets dinged also. Be careful about who you cosign for.


Will being a cosigner for an auto loan show up on your credit report?

yes it will, as a co-signer you are held just as responsible as the primary loan holder and it will appear on your credit report no matter if the payments are made on time or if they are late.


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.


Is the primary on a loan obligated to pay back a cosigner if the cosigner pays off the loan without the knowledge of the primary?

YES !!! He/she should certainly discuss it with the cosigner. It may be a gift or it may just be that the cosigner doesn't want to have that note appearing on his/her credit report. Whatever the reason, even if the cosigner did it as a gift, the primary should acknowledge and express appreciation. But be prepared if the cosigner expects the loan to be paid back.


Where can I get a free credit report online without purchasing anything?

You can request a free credit report once a year . You can obtain a free yearly credit by visiting: https://www.annualcreditreport.com/cra/index.jsp and filling out the online form.


Where can one find company credit reports?

Finding one's company credit report can be done by purchasing it from a business credit bureau. Dun and Bradstreet as well as Experian offer subscription services to allow for the access to one's own company credit report at any time.


I just purchased a 3in1 credit monitoring report and the credit scores that I got from them are different lower than ones purchased from the credit agencies in the same month Why?

The only reason may be timing. It is possible that between purchasing the 3in1 service and receiving the scores from the bureaus that updates or changes were made to your credit report. Sometime it takes a few months for changes to get to a credit bureau and be incorporated into one's credit report.


How can you find a phone number to contact Experian without purchasing a copy of their credit report?

One can find the phone number for Experian on their website, and use it to order their free annual credit report. Alternatively, they can also fill out an online form, or physically mail a form to request their free annual credit report.


How long is a credit report good for when purchasing a home?

This can vary by lender. The standard in the past was 90 days, but some lenders have shortened that in light of the current credit "crunch".


Can you get a loan from a bank with a responsible co signer?

Your abaility to obtain a loan from a bank is generally based on your credit score and what type of loan you would like to get. Generally, if you have a cosigner that has a good credit report you should be able to get a loan.


What is epuifax free credit report most useful for?

Equifax free credit report is most useful for checking a person (s) spending and payment habits by seeing how her or she does in paying their bill(s)after purchasing an item online or in retail stores.


If you rent an apartment at 17 in Florida and break the lease agreement can it be placed on your credit report and how long does it stay on report?

A seventeen year old would not be allowed to rent an apt. even with a cosigner. If they did so by claiming to be of legal age, it would be considered a fraudulent act and the debt could be deemed valid. The possiblity of a bad credit report is not relevant.


If you are a cosigner for someone and they default on the payments and the cosigner pays the debt off can you have the past due amount removed from your credit report?

No, you signed, you are equally responsible for the payments, you are also equally responsible for what happens with regard to default. This is why the lender permitted you to sign as a co-securer of the original loan.


What can a 70-year-old cosigner on a car loan be held responsible for if the loan is found in default?

The cosigner has the same legal obligations to repay the debt as does the primary borrower. If the primary borrower defaults, the lender can begin proceedings to collect the full amount owed plus applicable fees from the cosigner. A cosigner can be sued just as can the primary borrower. And if the primary borrower claims bankrutpcy, the cosigner will still get "stuck" with the debt. The credit report of the cosigner will be equally affected, either in a positive or negative way, depending upon the circumstances.