Yes. A co-signer must be approved. The nature of co-signing requires the lender to make certain the co-signer has good credit and the resources to pay the loan. The borrower's credit isn't good enough to qualify for the loan and therefore the co-signer must be able to pay the loan if the borrower fails to make the payments.
A person who needs a co-signer has been determined by the lender to not have the standard credit qualifications to borrow money. They may not have the credit record or resources to convince the lender the loan will be paid. They are a poor risk. Therefore, the lender requires a co-signer who guarantees that the loan will be paid back.
That should be a red flag for the co-signer. It falls to the co-signer to have the income and they need to have the resources to pay the loan if the primary borrower defaults on the payments. Co-signing a loan may make the co-signer ineligible for qualifying for loans from other lenders since the loan they co-signed shows up as a liability on their own credit record.
It depends on how your father's death, the repossession, and the cosigners credit are corelated.
i have no idea
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.
both owner cosigners credit will be affected both owner cosigners credit will be affected
As long as loan stays current, credit & other obligations irrelevant.
To apply for credit cards, one must fill in an application form either in person or online. The organisation will ask questions based on income, outgoings and will determine the credit score of the applicant from which it will offer or decline the application. Credit scoring can affect the interest rates and amount of credit offered, and too many applications together will also affect one's credit score.
Your credit score is not a consideration when applying for US Citizenship.
That is why the cosigner is there. To back up the contract if you bail.
Credit card affiliates offer credit card customers exclusive deals and incentives for using a credit card. This does not affect an application as the enrollment in the program is voluntary.
Generally speaking no. Cosigners are needed for a purpose, and most often it is because the primary debtors has bad credit.
Yes it will affect your chances for a virgin money credit card. This will happen becasue for any credit card that you are applying to you need a good enough credit score to qualify.
From the main Virgin Atlantic website, the application process for a Virgin Atlantic Credit Card is simple. Simply follow the links or click on the advertisement for the credit card. Clicking Apply now will put you through the online application process where you will fill out your personal credit information and be approved for the credit card.
Most lenders prefer a cosigner to have a credit score of at least 620. However, cosigners with a credit score of 720 or above is always preferred.
In order to get an Elan credit card a person would need to apply for a card with a small local bank and they will direct them to the Elan credit card application. They will help them with the entire application process.
Care one credit is a credit agency that you apply to get a credit line with. You must fill out the application and go thru the credit approval process in order to get Care One Credit.
The basic job description for a credit manager is to be accountable for the entire credit granting process. This process includes the consistent application of credit policy, periodic credit reviews of existing customer, and the assessment of the creditworthiness of potential customers.
If you are looking to get credit card rates and apply for credit cards online, there are many sites that can assist you. The online credit card application is simple. Simply fill out the application, provide the necessary information and you are seconds away from an online approval. You will be able to select from your choice of credit cards, from secured cards to unsecured cards and specialty store cards. The process is simple. When you want to get credit card rates and fill out credit card applications online, the process is simple. Start your online credit card application today.
As long as the loan for the unit is paid each month, the collateral will never be repo'd.
Credit card process works this way: One fills out a form online or paper, the for gets reviewed for a credit check and based on a person's credit check, the application can be declined or a certain amount can be provided (credit limit) if the application is approved.
To obtain a credit card, you need to fill out an application that asks for your name address and employment history and your credit history if you have one.
The credit of the primary borrower(s) and the cosigner(s) are equally affected (positively or negatively) and both are subject to the credit history check and evaluation.
Not normally ... unless there are already points against the consumer.
According to bankrate, if someone submits a business credit card application it affects their personal credit score. Since it's still their own business card, it's considered their personal item.
You were probably denied your loan application BECAUSE of your credit rating. It should be possible to find out what your credit report says about you - see the link below.