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The short answer is yes. The long answer is that when you co-sign a loan for another person, you agree to be responsible for that loan should they default so if they fail to pay the loan back, the creditor will expect you to shoulder the responsibility. If you fail to pay the loan back, it goes on your credit report.

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Q: Is a co-signed loan on my credit report?
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Are you responsible for a loan your spouse cosigned?

Only the two consumer's who signed the contract are responsible. The debt will show on your husbands credit report. If you apply for joint credit in the future, any accounts held individually or jointly with anyone else will be reflected on your credit report and may impact the score. So, if you anticipate wanting to get an account, or loan, with your husband in the future; it may be in your best interests to ensure this loan is paid as agreed.


If you cosign for your girlfriend at a dealership so she can get a car does it effect any loans or lones of credit that you may already have with another bank or institution?

Yes, it goes onto your credit report that you cosigned a loan because you could become responsible for the loan if she defaults. So, that amount of money does show up on your credit and could affect your credit worthiness .


Is there any way to get your name off of a loan if you cosigned for a car loan while you were married and then you got divorced?

The loan has to be "secured" by someone with good credit. Call the lender for their loan qualifications.


Why do late payments on a loan you cosigned for affect your credit rating and what can you do about it?

By being a co-signer you become a co-debtor. Therefore if the primary borrower defaults it can reflect on your credit report. There isn't much you can do about it, except try writing a dispute letter, that's a longshot.


Is the credit rating of a cosigner's spouse affected?

This should not show up on your personal credit report, but if you jointly apply for a loan (it is usually required that both spouses be on real estate transactions) it will be listed as one of his obligations and possibly reduce the amount that will be approved. And if the cosigned loan is in default or has been charged-off or repossessed, it could make it difficult to get a joint loan.

Related questions

Where can you get a fifty thousand dollar loan with bad credit?

Three possible choices: Quick loan or payday loan (outrageous interest rates, used for repairing credit), a Collateral loan, or a cosigned loan.


Are you responsible for a loan your spouse cosigned?

Only the two consumer's who signed the contract are responsible. The debt will show on your husbands credit report. If you apply for joint credit in the future, any accounts held individually or jointly with anyone else will be reflected on your credit report and may impact the score. So, if you anticipate wanting to get an account, or loan, with your husband in the future; it may be in your best interests to ensure this loan is paid as agreed.


Can co-signing a car loan affect your chance to get a student loan?

Only your previous federal loan history affects your ability to get most federal student loans. For private student loans, your debt (including debts you cosigned on) are a factor that would be considered by most lenders in making a credit decision. Your potential lender may ask themself: "If this person had to repay the loan they cosigned on, and all the other debts on their credit report, plus the loan they are asking us to approve, could we expect them to repay based on what we know about their income and credit history?"


Can co signing a car loan affect your chance to get a student loan?

Only your previous federal loan history affects your ability to get most federal student loans. For private student loans, your debt (including debts you cosigned on) are a factor that would be considered by most lenders in making a credit decision. Your potential lender may ask themself: "If this person had to repay the loan they cosigned on, and all the other debts on their credit report, plus the loan they are asking us to approve, could we expect them to repay based on what we know about their income and credit history?"


If you cosign for your girlfriend at a dealership so she can get a car does it effect any loans or lones of credit that you may already have with another bank or institution?

Yes, it goes onto your credit report that you cosigned a loan because you could become responsible for the loan if she defaults. So, that amount of money does show up on your credit and could affect your credit worthiness .


How do I find out if my husband cosigned for a car loan?

You are between a rock and a hard place regarding the loan if he will not give you the information about the loan. The loan will also show up on his credit report, but you may not have access to that, either.


How does a cosigned loan work?

If the person who the loan is for doesn't pay, the co-signer has to pay if thay don't pay it will afeect their credit also.


Is there any way to get your name off of a loan if you cosigned for a car loan while you were married and then you got divorced?

The loan has to be "secured" by someone with good credit. Call the lender for their loan qualifications.


Why do late payments on a loan you cosigned for affect your credit rating and what can you do about it?

By being a co-signer you become a co-debtor. Therefore if the primary borrower defaults it can reflect on your credit report. There isn't much you can do about it, except try writing a dispute letter, that's a longshot.


Is the credit rating of a cosigner's spouse affected?

This should not show up on your personal credit report, but if you jointly apply for a loan (it is usually required that both spouses be on real estate transactions) it will be listed as one of his obligations and possibly reduce the amount that will be approved. And if the cosigned loan is in default or has been charged-off or repossessed, it could make it difficult to get a joint loan.


Someone cosigned a loan for me and I since lost my job can this person file suit for the entire loan or just what she cosigned for?

No, you would have to redo the loan.


What happens if you were a cosigner on an auto loan but now your credit is terrible and you are in a credit consolidation program?

As far as the auto loan you cosigned for, nothing will happen as long as the person who actually borrowed the money makes the payments on time.