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What can you do if you are unable to continue making the payments but do not want to ruin the cosigner's credit?
Wiki User
∙ 19y ago
Sell it! Otherwise the co-signer is going to have a repo on there credit file. I suggest putting a For Sale sign in it right now to keep from having a enemy if the car is repoed by the bank. I wish you the best!
Wiki User
∙ 19y ago
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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
Is it illegal to take a car out of state when you are still making payments on it?
Not as long as you continue to make payments on it.
If you cosign for a student loan does it show up on your credit report before or after the student starts making payments?
It shows on your credit report even before they start making payments.
What do you do if you can not afford to continue making the car payments on the totaled car while making payments on the new car loan?
Sell the newer car and buy something cheaper. It's a bad idea to default on a loan and screw up your credit. Sounds like you overextended yourself financially!
If an account is closed by a credit grantor why would the card holder continue to make payments after bankruptcy findings are closed?
The card holder is under no legal obligation for the card holder to continue making payments after filing for bankruptcy, unless the case is dismissed without a discharge. There are some who believe that they can improve their credit rating by pay off debts that were discharged in a bankruptcy, but I believe there are better methods to reestablish credit after bankruptcy.
How do you get into credit card debt?
By using them & only making the minimum payments.
Can a person be jailed for not making credit card payments?
No. They can't put you in jail.
How can personal responsibility affect your credit report?
Creditors will often take into account how responsible a person is in making payments on their loans and credit cards.Making payments on time, keeping your credit utilization low and establishing a solid payment history are some actions that can have a positive impact on your score.
How do you esablish credit?
Start off first by getting a Sears, Target, Circuit City or similar in-store credit card. After making purchases and payments on that for six months, you should become eligible for small limit credit cards. Keep making purchases and payments on all credit and shortly you will have established a ground credit. DO NOT GO OVER LIMITS, MISS PAYMENTS, OR INQUIRE INTO TOO MANY CREDIT ACCOUNTS.
What happens to my credit score after a loan modification?
My credit score is 606 at the moment,i just have my loan mod done and final. I'm making my payments ahead of time,How much my credit score can go up within a year of making payments on time. Thank you for your answer.
What happens if you loose your job after you buy a car?
You figure out a way to continue making the payments.
What are the consequences of not making car payments?
If you do not make car payments you will default on your loan or lease. It will ruin your credit and end up with a repossession.
