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Yes. When you co-sign a loan it is considered your debt since you have agreed to pay if the primary borrower defaults.

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9y ago

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Related Questions

Will cosigning a loan effect your ability to get a loan?

Yes, it will affect your debt to income ratio.


Can a friend of mine cosigning a apartment hurt her chance on buying a house?

no dont worry it has no effect


When you buy U.S. government savings bond your doing so under the power given to the congress to?

The power that is given to congress is the ability to borrow money.


How does cosigning for an auto loan affect your ability to get your own auto loan?

Never cosign a loan. While I agree that one should NOT cosign. cosigning can hurt or help. Remember that if they do not pay you have to. Cosigning will affect your credit and count towards your debt to income ratio and show as an open joint auto loan. You might be turned down to get your own auto loan without a cosigner if you cosign.


Have you ever regretted cosigning a loan for your ex?

Yes, I have regretted cosigning a loan for my ex.


What are the potential risks and responsibilities involved in cosigning a car lease?

Cosigning a car lease involves the risk of being financially responsible for the lease if the primary signer fails to make payments. It also affects your credit score and could limit your ability to take out loans in the future.


Does cosigning for a vehicle lease obligate you to other debts the person has?

No. It will become a part of your credit report and will have some effect on your debt to income ratio.


Have you ever regretted cosigning a car loan for your ex?

Yes, I have regretted cosigning a car loan for my ex.


How does cosigning for an apartment effect me?

If you are signing for someone and they pay late it goes on your credit report as a late pay. Also if the person can not pay the rent you are liable to.


Would cosigning a car loan hurt you for a mortgage?

It may. When you cosign a loan it becomes your own debt. By cosigning you agree to be responsible for paying the loan balance if the primary borrower stops making payments. That's why the bank requires a cosigner. If you apply for a mortgage the lender will figure that debt into the calculations as to your ability to repay the mortgage you apply for.It may. When you cosign a loan it becomes your own debt. By cosigning you agree to be responsible for paying the loan balance if the primary borrower stops making payments. That's why the bank requires a cosigner. If you apply for a mortgage the lender will figure that debt into the calculations as to your ability to repay the mortgage you apply for.It may. When you cosign a loan it becomes your own debt. By cosigning you agree to be responsible for paying the loan balance if the primary borrower stops making payments. That's why the bank requires a cosigner. If you apply for a mortgage the lender will figure that debt into the calculations as to your ability to repay the mortgage you apply for.It may. When you cosign a loan it becomes your own debt. By cosigning you agree to be responsible for paying the loan balance if the primary borrower stops making payments. That's why the bank requires a cosigner. If you apply for a mortgage the lender will figure that debt into the calculations as to your ability to repay the mortgage you apply for.


How does cosigning for a car loan affect your credit?

No.


What an effect of excessive government borrowing?

It becomes more expensive for the private sector to borrow