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What else can I help you with?
Can a new business owner cosign for a loan in his business name and what effect will it have if the borrower defaults on the loan?
Cosigning for a loan is dangerous to do. A true business loan should be under a business name itself, a personal guantee may be required in some situations. To build business credit search for a mentoring service online.
Wife and you on car loan now divoced can you get off loan?
I am dealing with my own drama in a cosign arrangement. I have found that the only way to get your name off of the loan is to have her get a new loan through refinance.
How does trading in a car affect your credit?
Trading in a car can affect your credit in both positive and negative ways. When you trade in a car and get a new loan, it can impact your credit score based on factors like the new loan amount, your payment history, and the length of the loan. If you make timely payments on the new loan, it can help improve your credit score. However, if you have negative equity on the trade-in or miss payments on the new loan, it can hurt your credit score.
Can you get an easy bank loan for a new car?
Getting an easy bank loan for a new car will depend on your credit rating. If your credit rating is Good or above, you would easily qualify for a loan. If your credit rating is not very good, then you are unlikely to qualify for a loan.
Will opening a new credit card affect your credit rating?
Yes. Any new credit account or loan will effect your rating.
Can a new business owner cosign for a loan in his business name and what effect will it have if the borrower defaults on the loan?
Cosigning for a loan is dangerous to do. A true business loan should be under a business name itself, a personal guantee may be required in some situations. To build business credit search for a mentoring service online.
Wife and you on car loan now divoced can you get off loan?
I am dealing with my own drama in a cosign arrangement. I have found that the only way to get your name off of the loan is to have her get a new loan through refinance.
How does trading in a car affect your credit?
Trading in a car can affect your credit in both positive and negative ways. When you trade in a car and get a new loan, it can impact your credit score based on factors like the new loan amount, your payment history, and the length of the loan. If you make timely payments on the new loan, it can help improve your credit score. However, if you have negative equity on the trade-in or miss payments on the new loan, it can hurt your credit score.
Can you get an easy bank loan for a new car?
Getting an easy bank loan for a new car will depend on your credit rating. If your credit rating is Good or above, you would easily qualify for a loan. If your credit rating is not very good, then you are unlikely to qualify for a loan.
Will opening a new credit card affect your credit rating?
Yes. Any new credit account or loan will effect your rating.
What tips are there to help someone create an A plus credit rating?
Make all your payments ON TIME EVERY TIME, only be using about 20-30 percent of your available credit at any given time. Keep credit inquiries (when you apply for a new card or loan) to a minimum and most importantly NEVER cosign with anyone unless you are 100 percent sure they are trust worthy.
How soon can you remove your name as a cosign for a house?
As soon as the loan is paid off. The only way for a cosigner to "remove his name" is to pay off the loan. Since refinancing pays off the original loan (and creates a new one), this would provide an opportunity for the co-signer to opt not to co-sign the new loan.
Can you transfer car payments to another person?
Yes, car payments can be transferred to another person through a process called a loan assumption or a loan transfer. This typically involves the new person meeting the lender's credit requirements and agreeing to take over the responsibility for making the payments on the car loan.
Can I refinance my loan without undergoing a credit check?
In most cases, you cannot refinance a loan without a credit check. Lenders typically require a credit check to assess your creditworthiness and determine the terms of the new loan.
Can one person on the loan trade it in without the other signing off?
As long as you weren't a registered owner. If they trade the car in, then the trade should be paid off by the dealer where they bought the new car. This is actually good for you, since I'm assuming you didn't cosign the newest car loan. You're off the hook.
Which is an example of a person using credit in order to obtain something?
Adam goes to a car dealer and gets a loan to buy a new car. ( STUDY ISLAND)
I am going to get a loan for a new truck. My father is going to cosign for me. Since he is the cosigner is it legal for him to take the truck from me if he wishes?
Yes, because if you do not make the payments, the missed payments affect his credit report. If you want to own a truck, then buy one using your own cash or credit ability. If you are still a minor, then he has the right and responsibility to help you manage your life so that your are safe.
