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.
Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.
Yes, a person with bad credit can get a cosigner for a mortgage. The cosigner will have to have excellent credit and must go into the office to sign papers to become a cosigner.
Yes. It will also improve the co-signer's credit too.
You've got that stated backward. The person with bad credit who needs a credit card would be the borrower. He has to find someone with good credit to be the cosigner. And the cosigner has to really trust the borrower because he is going to be responsible for repaying the card if (when) the borrower doesn't.
If someone wanted to improve their credit rating there are a variety of places where someone can do so. Some of these ways are for the individual to check their credit files.
Yes, it will still help your credit.
This is a very poor credit score. You can apply but it is unlikely you will get a loan without a cosigner. If you are able to get a loan without a cosigner your interest rate will be very high as compare to someone with a good credit score of over 700.
It will appear on the CR of both parties.
no you do have to have a cosigner with good credit in order to get a student loan.
The cosigner's credit isn't affected one ioto unless the person who was responsible for the loan payments defaulted, then and if the cosigner also defaulted. In other words, just being a cosigner does not affect ones credit ratings.
SOMEONE THATS HAS A JOB.
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
Oh yes it does. That person put their credit on the line when they signed the contract making me a cosigner.
Yes, having a cosigner on a loan or line of credit/ credit card can help your credit. It can help because, assuming they have good credit, you are more likely to get approved, which gives you a chance to build your credit. The danger is if the cosigner where to default on payments or abuse the account (such as using a credit card you both are signers on to rack up a lot of debt). So if you pick your cosigner carefully it can help you- but remember what you do on the account effects their credit, so make sure you are also responsible with the account.
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
The credit of the primary borrower(s) and the cosigner(s) are equally affected (positively or negatively) and both are subject to the credit history check and evaluation.
No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.