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The cosigner's credit score is used. They are the one responsible if the primary signer defaults on payment. Both credits are ruined if the car payment is missed. Be very careful of who you sign for!
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∙ 17y ago
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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 you have a person with new credit cosign your loan?
It's up to the lender.
Can your parents cosign for your house loan?
Anyone can if they have enough good credit. Relationship to you has no bearing.
Is it possibleto get an auto loan with a 547 credit score?
It is unlikely that a bank would give a person a loan who has a credit score of 547. A good credit score for a loan would be between 700-800.
If you are sixteen can you get a loan for a car if you have somebody with good credit who will cosign for you?
Yes, that's the simplest way to do it.
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 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.
Does divorce disqualify one from eligibility to cosign a loan?
It depends on what kind of loan. Generally, the answer is no, it does not, but the divorce may have an adverse effect on the separate credit scores, and it would be the lowering of the credit score that might make one ineligible for cosigning.
Can you have a person with new credit cosign your loan?
It's up to the lender.
Can a spouse with good credit cosign a student loan for their spouse with bad credit?
That is decided by the LENDER.
Where could one finance automobile purchases with a good interest rate on their loan?
The best way to receive a good interest rate on your loan is to either have a good credit score or have someone cosign with a good credit score. You can usually receive the best rates with banks or credit unions that you have been a member of for a prolonged period of time.
Can your husband cosign on a car loan with a suspended license?
ok Should not be a problem. A car loan is about credit, not driving.
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 your parents cosign for your house loan?
Anyone can if they have enough good credit. Relationship to you has no bearing.
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.
Is it possibleto get an auto loan with a 547 credit score?
It is unlikely that a bank would give a person a loan who has a credit score of 547. A good credit score for a loan would be between 700-800.
If you are sixteen can you get a loan for a car if you have somebody with good credit who will cosign for you?
Yes, that's the simplest way to do it.
