0
Cosigning on any debt makes you just as responsible as the other borrower. The balance of the debt will be on both of your credit reports, regardless of whether payments are due now, 4 years from now, or past due. The creditor can take any action against you that could be taken against the other borrower, and they do not have to go after the other borrower first.
Wiki User
∙ 8y ago
Add your answer:
Earn +20 pts
If someone cosigns a loan for you will it show up on their credit report?
yes
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 it reflect on my credit if my father cosigns on a loan with me?
Yes, it will report equally.
Who is the owner of a loan that is co-signed?
The lender is the owner of the loan.The person who cosigns a loan is equally responsible for paying it if the primary borrower does not pay.See related question link.The lender is the owner of the loan.The person who cosigns a loan is equally responsible for paying it if the primary borrower does not pay.See related question link.The lender is the owner of the loan.The person who cosigns a loan is equally responsible for paying it if the primary borrower does not pay.See related question link.The lender is the owner of the loan.The person who cosigns a loan is equally responsible for paying it if the primary borrower does not pay.See related question link.
If I pay my loan payments on time will the person who cosigns for me be at risk?
if you are paying on time there is no risk to the co signer
If someone cosigns a loan for you will it show up on their credit report?
yes
If someone cosigns your auto loan are they responsible for your other debts or only the auto loan?
Just for the auto.
Who will give a sister a student loan with bad credit Can you co-sign for her if you are not blood related?
the person that cosigns for you does not have to be related to you. and i dont know who will give you a loan without one, cause i cant get one either.
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 it reflect on my credit if my father cosigns on a loan with me?
Yes, it will report equally.
Who is the owner of a loan that is co-signed?
The lender is the owner of the loan.The person who cosigns a loan is equally responsible for paying it if the primary borrower does not pay.See related question link.The lender is the owner of the loan.The person who cosigns a loan is equally responsible for paying it if the primary borrower does not pay.See related question link.The lender is the owner of the loan.The person who cosigns a loan is equally responsible for paying it if the primary borrower does not pay.See related question link.The lender is the owner of the loan.The person who cosigns a loan is equally responsible for paying it if the primary borrower does not pay.See related question link.
If I pay my loan payments on time will the person who cosigns for me be at risk?
if you are paying on time there is no risk to the co signer
Where could someone go to look for private student loan consolidations?
To look for private student loan consolidations, on can go to the Student Aid website. The website has information about student loans, including how and where to consolidate them.
If someone with good credit cosigns for someone with bad credit will the cosigner's score decrease much?
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
If one spouse cosigns a loan is the other spouse responsible?
Yes, so be careful. You have to be sure that you will stay with your spouse.
What is the different between a parent loan and a student loan?
Parent Loan: A parent is getting the loan Student loan: A student is getting the loan
The student loan settlement student loan settlement student loan settlement student loan settlement student loan settlement student loan settlement.?
There are many places to research student loan settlement. You can look at various places on the web or at many banks. Looking for loan settlements can be difficult start by checking www.wellsfargo.com/student
