If you are not on the loan, then your credit will not be affected. Unless the court makes you responsible for the debt (doubtful) then there is nothing to worry about.
The act of divorce does not damage your credit.
Anyone with good credit, who is willing to put their good credit on the line for you, and willing to guarantee that your loan will be paid even if they have to pay it, can co-sign a loan.Anyone with good credit, who is willing to put their good credit on the line for you, and willing to guarantee that your loan will be paid even if they have to pay it, can co-sign a loan.Anyone with good credit, who is willing to put their good credit on the line for you, and willing to guarantee that your loan will be paid even if they have to pay it, can co-sign a loan.Anyone with good credit, who is willing to put their good credit on the line for you, and willing to guarantee that your loan will be paid even if they have to pay it, can co-sign a loan.
If you don't return a vehicle after it's put in repo status, it goes on your credit report as "Vehicle cannot be located." Once this is on your credit report, it's impossible to get refinancing for a new vehicle. The best thing to do after that is to file for a bankruptcy. The auto credit company will usually hire a investigator and they can file a lawsuit. But there is typically no criminal charges because, it's technically your vehicle.
Credit limit will vary depending on your credit rating and what the credit company is willing to offer you.
As the co-signer, you have vouched for the loan and can be held accountable for the balance.
Depends upon whether the credit company submitted a negative mark to the credit reporting bureaus. If they did, it will bring down your score. Contact your lender to find out. They may be willing to remove the flag if you were great with payments before and after.
For a better chance at getting the vehicle loan, increase your credit after the vehicle loan. Increasing your credit before may reduce the your vehicle loan amount.
When you don't have a credit history, it can be difficult and frustrating when trying to obtain a credit card or other type of loan. Establishing your initial credit history can be a Catch-22. If you don't have credit, not many places are willing to give you credit, yet how can you ever establish credit if nobody is willing to give you any.
Even if surrendering a vehicle is voluntary, you will still be responsible for the amount owed on the loan after the sale of the vehicle. Most lenders report to the credit bureaus and any unpaid balance will be reported, as will payments made or missed on this balance.
People with bad credit will have more difficulty leasing a vehicle. Different lenders have different criteria for what is good credit and what is bad credit.
10 years
Only if you have the credit card if your divorsed it dosent matter