0
Which credit card companies will allow someone with good credit to co-sign for a person with bad credit?
Wiki User
∙ 17y ago
There is no way to answer this specifically. The persons involved would have to contact credit card issuers and ask about terms. It should be noted that cosigning anything affects the persons credit score and income ratio on their report. Credit card companies and banking institutions just love people like you! DON'T CO-SIGN! Once you put your name on that document you are responsible for that debt! You earned your good credit rating and the other person didn't so let them get themselves out of their own mess whether it be a family memeber, daughter, son, or friend. You will undoubtedly get stuck with this bill!
Wiki User
∙ 17y ago
Add your answer:
Earn +20 pts
Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
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.
Can someone without a job co-sign on a car?
Yes, a person without a job can cosign on a car loan. However, the person must have great credit before they can cosign.
If cosigner has a car loan already may she cosign for someone and be approved for that person and the cosigner has good credit?
Yes.
Can someone with no credit cosign for someone?
A lot of creditors will not accept a co-sign from someone with no credit. They want proof that if the person who takes out the loan defaults, the co-signer will have the credit funds available to pay off the loan.
Can you have a person with new credit cosign your loan?
It's up to the lender.
Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
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.
Can someone without a job co-sign on a car?
Yes, a person without a job can cosign on a car loan. However, the person must have great credit before they can cosign.
If cosigner has a car loan already may she cosign for someone and be approved for that person and the cosigner has good credit?
Yes.
Can someone on social security benefit's cosign for a loan?
Yes, someone on the social security can be able to cosign for a loan. The person cosigning the loan however has to have good credit regardless of his availability on the social security benefit.
Can someone with no credit cosign for someone?
A lot of creditors will not accept a co-sign from someone with no credit. They want proof that if the person who takes out the loan defaults, the co-signer will have the credit funds available to pay off the loan.
Can you have a person with new credit cosign your loan?
It's up to the lender.
If i cosign a car for someone will my name come off in a year?
No. It doesn't come off until the loan is paid and if the person who is getting the loan doesn't pay you will owe for the loan. When you cosign it also goes on your credit report.
Can a person without a drivers license cosign for someone?
Yes
If you cosigned for a credit card and the person defaulted on it and you were never notified of the default can you fight this on your credit report?
You can try. It probably won't work. Basically lenders assume that if you cosign for something, you understand the risk. They don't care if the primary person forgot to notify you that he/she was having trouble. It's not fair, but it will make you think hard before you cosign for someone again. Be very careful.
Can a bankrupt person cosign a loan I have a good credit score but not enough income. My father makes over 100k a year but got over his head with credit cards. Is he still able to cosign my loan?
Anyone the lender accepts can be a cosigner...that is entirely the lenders choice. However, they naturally want someone more qualified, having a higher credit score, than the primary. Your father likely does not.
Can a person with bad credit cosign for a car loan?
I don't think so. The reason for a cosign is because the person buying the car has bad credit and the cosigner is a guarantee to the bank the loan will be paid. Two bad credit reports doesn't equal one good one. Since you have credit problems I wouldn't sign because that will add to your debt ratio to income and actually harm your credit.
What credit card companies will allow you to apply with a co signer?
If the cosigner has a good credit rating any credit card company would be more than happy to let them cosign. All credit card companies are interested in is getting their money back. The cosigner should always be as sure as possible that the person they are cosigning for is reliable and will pay back any outstanding balance because if they don't the cosigner is 100% responsible in paying that debt back!
