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Will the primary and co signer have bad credit if a car is repossed?
Wiki User
∙ 12y ago
Yes. It will be reported on their credit records.
Yes. It will be reported on their credit records.
Yes. It will be reported on their credit records.
Yes. It will be reported on their credit records.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoYes. It will be reported on their credit records.
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If you are the primary signer on an auto loan lease who has bad credit and the co-signer goes bankrupt are you as the primary affected in any way even when you've made all payments?
The primary signer's credit will not be affected by the bankruptcy of the co-signer (as long as pmts are made on time). However, if the loan is relatively new, the lender may require the primary borrower to sign new papers providing a different co-signer.
Can your credit be to bad for a co signer?
The question is a liitle vague. Can your credit be too bad that even having a co-signer won't help? Not necessarily, as long as the co-signer has excellent credit. The co-signer's credit history overrides the applicant's. Can your credit be too bad that you cannot act as a co-signer? Absolutely.
How can a co-signer with perfect credit help you get a mortgage loan when you have bad credit?
They sign the papers with you. Basically the lender understands that if you have bad credit, then they will depend on the co-signer to help you out. Otherwise the co-signer will soon have bad credit also.
How will debt negotiation affect a co-signer on a credit card?
A co-signer is equally responsible for any debt, so whatever negotiation si reached will bind the co-signer as well. Initially, the bad credit is reported only to the primary on the account, but if the co-signer cannot step in and make th payments, his credit history can also be affected. NEVER be a co-signer.
Where can I find a student loan because all my potential cosigners have bad credit?
Find a co-signer with good credit. The whole point of having a co-signer is that their credit history is good enough to cover whatever gaps you have (no credit, poor credit, etc.) No one will grant a loan with a bad co-signer.
Can you get a student bank account with bad credit?
You may be able to get a student bank account with bad credit if you have a co signer. Most student bank accounts require a co signer anyway.
Can you have a co signer with good credit co sign for a car loan if you have bad credit?
yes
How get a loan with a bank with bad credit?
The only way one with bad credit get a loan from a bank is to use a co-signer who has a stronger credit profile.
You are underage with bad credit do you need a cosigner?
absolutely, even if you are of age of majority with bad credit, you will still need a co-signer.
Is there a bad credit finance agency in DallasTexas?
Even with bad credit you can get financing. However, bad credit will require a larger down payment and perhaps even a co-signer with better credit.
Can a co-signer help get a person with bad credit get the same rate that a person with excellent credit gets?
Not likely.
Can you get financing for a car if you have bad credit?
There are options out there for purchasing a car with bad credit. A great start would be to have a large down payment. One could also have a co-signer on their car loan and after making the payments the co-signer can be released from that lien.
