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If this relates to a joint account holder or cosigner, then yes the person's credit rating will be affected by a repossession. Yes, whoever's name the car is in will be affected by the car's repossession. Only if the car is somehow tied to the account. Only a bad payment history on that joint account can affect your credit.

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Q: Is a joint applicant's credit affected by a car repossession?
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Related questions

Will the surviving spouse's credit rating be affected by the repossession of the deceased spouse's car?

AnswerIf the surviving spouse was not a joint borrower on the vehicle loan the repossession affect/appear on their credit report.

Are joint loan applicants able to take up separate loans?

Yes, if their credit history allows them to qualify for more financing.

If you are specified as an authorized user on a credit card account that is not a joint account can your credit score increase?

No, only the primary cardholder's credit score is affected.

If you adds your sister as a second cardholder to an account will your credit be negatively affected by your sister's bad credit?

No. Only is she became a joint account holder, then both persons credit would be affected if any default occurred.

Is the new spouse reliable for child support in pa?

No, but if arrears exist, joint assets and credit may be affected.

If you have bad credit but your fiance has good credit how will you be affected when applying for a mortgage loan?

Yes, if both people apply for a joint loan, both credit reports will be used to determine the elgibility of the borrowers.

What happens to your credit if you marry someone who has filed bankruptcy in the past?

If the couple apply for any type of joint financing such as a home morgage it could create difficulties. Other than joint financial transactions the credit of the spouse who was not a party in the BK will not be affected

In Ohio does a spouse assume partners debt that was incurred before the marriage?

No. Although the spouse can be affected by the outstanding debt when applying for joint credit or if a joint bank account is levied by a judgment creditor.

Do they do a credit check for adding your name to the house mortgage?

Yes, generally all joint financial agreements/contracts require that all applicants submit to a check of their credit history. In a few states the requirements for a married couple are somewhat different.

I filed bankruptcy for my credit cards my wife has her own credit cards in her name am I obligated to pay her credit cards also when we get a divorce?

If your name is not on the account, and the account is not considered a "joint account" by the credit card company, then you should not be held liable for any debt on your wife's credit cards.

Your husband and you have no joint accounts if you file bankruptcy will his credit be affected?

No. But all joint debts will become his responsibility. Speak with an attorney about your specific situation. If you can not find an attorney, contact your local Bar association and they will refer you to one.

If the primary creditor defaults on credit card will the secondary's credit rating be affected if they're not spouses?

Credit scores are kept separate, unless the account in default is a joint account. However, if you are a co-signer you will be contacted about the debt. If you are unable to pay or cannot negotiate a settlement. It will turn up on your credit report.