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Which states' lenders are supposed to notify the cosigner before reporting a late payment to credit bureaus?
Wiki User
∙ 17y ago
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Wiki User
∙ 17y ago
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Does car repossession show on your credit report?
Almost all auto lenders will report a reposession to the credit bureaus. There is a possibility that they won't report to all three credit bureaus as credit reporting is a voluntary system. They may only report to one or two of the bureaus.
How long will it take an auto loan to be added to your credit report after purchase?
Most new major credit items are reported to credit bureaus within 45 days of your first installment payment. Lenders have the option of reporting to 1, 2 or all 3 major credit bureaus. Some lenders, such as those that specialize in subprime financing, may refuse to report to credit bureaus unless you are late on a payment.
Can a cosigner live in a different state than the borrower?
That depends on the lending institution, but most lenders will accept an out of state cosigner as long as the person qualifies.
How do you report someone to a credit agency?
Consumers don't report their own credit history to credit reporting agencies - Lenders do. However, you can file a consumer alert with each of the agencies that will put your statement on file.
Where do you get a car loan with no credit and no cosigner?
Some who has character My Friend it is very difficult to get car loan with no credit and no cosigner although you have to contact some good car lenders in your area they can guide you better.
Do lenders have to report to credit agencies the same time each month?
No. Lenders don't "have" to report to credit agencies at all. Credit reporting is totally voluntary. There is no law which requires or compels it. The Fair Credit Reporting Act states that IF information is reported, then it must be accurate. But there is no provision that insists on reporting.
What is the minimum age required to finance a car?
In some states it is 18, but you can possibly do it with a cosigner younger than that depending on your local lenders.
How long does it take for negative information to be reported to the credit bureaus and show up on your credit report?
Most lenders report once or twice a month to the credit reporting agencies and usually on a specific date. This date depends entirely on the lender. So, it can take anywhere from one to thirty-one days.
If a cosigner has died and the primary borrower defaults is the cosigner's estate obligated to pay the debt?
Creditors/lenders will attempt almost anything to collect a debt. It is unlikely that a lender could place a claim against a deceased cosigner's estate and be awarded a judgment. But, there are no certainties in the murky creditor vs. debtor arena.
Is a home equity line of credit payment reported to the 3 credit bureaus?
Every creditor can at their option report to none, one, 2 or all three credit bureaus. Generally speaking, most lenders report to all 3.
If you have bad credit and high debt and apply for an 80K loan with a cosigner with very good credit and high net worth will you get the loan?
That is determined by the lenders loan guidelines.
Are credit reports online reliable?
Credit reports online are reliable. These reports are taken from the same three major credit bureaus that lenders will pull their own reports from.
