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When the co-signer signed for the signer then the co-signer accepted the debt as his/her own. If the signer does not fulfil the terms of the lease then the co-signer will be responsible and it will appear on the credit report.
If and when it effects the credit score will depend what is contained in the report now, example to many debts, not paying per the guidelines of the other debts, etc.
Some credit report sites have scenerio calculators, most times they are free to use.
What else can I help you with?
Does breaking a lease on an apartment show on a credit score?
yes
What is the lowest a cosignee's credit score can be?
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.
What are the consequences of leaving an apartment before the lease ends?
Leaving an apartment before the lease ends can result in financial penalties, such as having to pay the remaining rent or losing the security deposit. It can also impact your credit score and rental history, making it harder to rent in the future.
Can someone with a low credit score lease an apartment?
Yes as long as their income and deposit meet the landlord's requirements. Remember, every landlord is different so it depends.
What are the consequences of moving out of an apartment before the lease is up?
Moving out of an apartment before the lease is up can result in financial penalties, such as having to pay the remaining rent or losing the security deposit. It can also impact your credit score and rental history, making it harder to secure future housing.
Does breaking a lease on an apartment show on a credit score?
yes
What is the lowest a cosignee's credit score can be?
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.
Can I use only my credit score to rent an apartment if my husband has a bad one?
Your credit score is one part of your rental application, and it's important to know that landlords will usually check all three credit bureaus when considering an applicant. If you have a low credit score, you may want to ask your husband to cosign on the lease with you. This will help improve your chances of being approved for the apartment you want.
Someone with a poor credit score should be able to lease a car.?
Someone with a poor credit score should be able to lease a car.
What happens if you don't pay your apartment lease on time?
If you don't pay your apartment lease on time, you may face late fees, eviction proceedings, and damage to your credit score. It is important to communicate with your landlord if you are having trouble making payments to avoid these consequences.
What are the consequences of leaving an apartment before the lease ends?
Leaving an apartment before the lease ends can result in financial penalties, such as having to pay the remaining rent or losing the security deposit. It can also impact your credit score and rental history, making it harder to rent in the future.
Can someone with a low credit score lease an apartment?
Yes as long as their income and deposit meet the landlord's requirements. Remember, every landlord is different so it depends.
Does a car lease reflect on your credit score?
Yes.
What are the consequences of moving out of an apartment before the lease is up?
Moving out of an apartment before the lease is up can result in financial penalties, such as having to pay the remaining rent or losing the security deposit. It can also impact your credit score and rental history, making it harder to secure future housing.
Will sharing a lease with someone that has bad credit bring your credit score down?
Yes
How high does your score have to be for approval on an apartment rental credit check?
Credit scores range from 300 to 850. The average credit score is 678. A score under 620 would put you in the higher risk category, where you may not qualify to rent the apartment.
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.
