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Not really. When you co-sign you agree to pay the primary borrower's debt if they fail to pay. That debt would be counted as your debt if you applied for credit for yourself. In fact, if the primary borrower falls behind on their payments or fails to pay the debt that you co-signed for, it could ruin your own credit rating unless you make those payments on time.
What else can I help you with?
How can a co-signer with perfect credit help you get a mortgage loan when you have bad credit?
They sign the papers with you. Basically the lender understands that if you have bad credit, then they will depend on the co-signer to help you out. Otherwise the co-signer will soon have bad credit also.
If your parents co-sign for an apartment rental will it be accepted?
If they are credit worthy, it may help you get into an apartment.
Can you have a co signer with good credit co sign for a car loan if you have bad credit?
yes
Who can co-sign auto 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.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.
Can you co-sign for a car if you have no credit?
Its very unlikely.
What is the risk to you if you co-sign for a friend's credit card and they are unable to make payments?
If you co-sign for a friend's credit card and they can't make payments, you are legally responsible for the debt. This can damage your credit score and financial stability.
Can a person who financed a car co-sign for another person?
Yes, depends on the co-signers credit.
You are secondary on car loan does that help your credit?
Yes. If you co-sign on a auto loan, payments that are made on time being reported to the credit bureas are considered positive and it also reflects a positive impact on your credit rating.
How long could a cosigner help you rebuild credit?
Co-signers and CreditA co-signer really doesn't help you build credit, because the loans are actually based on the credit of the co-signer and not you. Type this in Google..........How can I rebuild my credit? for information
Can you have a co-signer for CareCredit?
Yes, you can have a co-signer for CareCredit, which can help you qualify for the credit card if you have a limited credit history or a lower credit score.
If you co-sign with someone who defaults on the note is there any way to get it removed from the co-signers credit?
Do what you agreed to do. Pay the lender.
Can a parent with bad credit co sign a college loan for there child?
It is not likely that the lender will accept that parent as a co-signer.
