Comments on: Dangers of Co-signing - It Becomes Your Debt! http://www.askmrcreditcard.com/creditcardblog/dangers-of-co-signing-it-becomes-your-debt/ Latest Credit Card News, Reviews and Information Thu, 20 Nov 2008 16:49:30 +0000 http://wordpress.org/?v=2.6.3 By: VALENCIA RICHARDSON http://www.askmrcreditcard.com/creditcardblog/dangers-of-co-signing-it-becomes-your-debt/#comment-56596 VALENCIA RICHARDSON Wed, 05 Mar 2008 17:38:34 +0000 http://askmrcreditcard.com/creditcardblog/dangers-of-co-signing-it-becomes-your-debt/#comment-56596 I CO-SIGNED FOR SOMEONE AND THEY QUIT PAYING. MY CREDIT SCORE WENT FROM 700 TO 460 AND DROPPING. I KNOW THAT I AM RESPONSIBLE AS A COSIGNER FOR THIS DEBT. IS THERE ANY WAY TO GET MY NAME OFF AS COSIGNER OR WILL I JUST HAVE TO PAY THE ENTIRE BILL? IS THERE A LOW PAYMENT PLAN THAT I CAN WORK OUT TO PAY THIS TO STOP MY CREDIT SCORE FROM DROPPING? CURRENTLY THE CREDIT CARD IS UP TO 7,000.00. I CO-SIGNED FOR SOMEONE AND THEY QUIT PAYING. MY CREDIT SCORE WENT FROM 700 TO 460 AND DROPPING. I KNOW THAT I AM RESPONSIBLE AS A COSIGNER FOR THIS DEBT. IS THERE ANY WAY TO GET MY NAME OFF AS COSIGNER OR WILL I JUST HAVE TO PAY THE ENTIRE BILL? IS THERE A LOW PAYMENT PLAN THAT I CAN WORK OUT TO PAY THIS TO STOP MY CREDIT SCORE FROM DROPPING? CURRENTLY THE CREDIT CARD IS UP TO 7,000.00.

]]> By: Laura Williams http://www.askmrcreditcard.com/creditcardblog/dangers-of-co-signing-it-becomes-your-debt/#comment-53962 Laura Williams Wed, 13 Feb 2008 09:52:47 +0000 http://askmrcreditcard.com/creditcardblog/dangers-of-co-signing-it-becomes-your-debt/#comment-53962 I completely agree that kids need the proper education regarding financial management. In fact only a day or two back I was discussing with my colleagues regarding this. It would be really good to have this as an essential part of the curriculum to at least make them aware of their responsibilities. I found really good information here "http://www.ftc.gov/bcp/conline/pubs/credit/cosign.shtm" It throws light upon the pros and cons of co-signing. I completely agree that kids need the proper education regarding financial management. In fact only a day or two back I was discussing with my colleagues regarding this. It would be really good to have this as an essential part of the curriculum to at least make them aware of their responsibilities. I found really good information here

“http://www.ftc.gov/bcp/conline/pubs/credit/cosign.shtm”

It throws light upon the pros and cons of co-signing.

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