Comments on: How Does Co-Signing A Loan Affect Your Credit? http://www.askmrcreditcard.com/creditcardblog/how-does-co-signing-a-loan-affect-your-credit/ Latest Credit Card News, Reviews and Information Thu, 09 Feb 2012 07:48:57 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Peter http://www.askmrcreditcard.com/creditcardblog/how-does-co-signing-a-loan-affect-your-credit/comment-page-1/#comment-275080 Peter Fri, 03 Feb 2012 18:10:23 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=981#comment-275080 I've cosign for a friend back in the 2008 and that loan got default in late 2010. I was unemployed for a while so i could not make the payment on it, so the loan got default. This really kill my credit score (585). At this point wat step can I take to improve my credit score? and how long would the loan stay on my credit record? or is there a way I can take it off the record? Either by repaying for that loan or what are some recommendation? I’ve cosign for a friend back in the 2008 and that loan got default in late 2010. I was unemployed for a while so i could not make the payment on it, so the loan got default. This really kill my credit score (585). At this point wat step can I take to improve my credit score? and how long would the loan stay on my credit record? or is there a way I can take it off the record? Either by repaying for that loan or what are some recommendation?

]]> By: Regina http://www.askmrcreditcard.com/creditcardblog/how-does-co-signing-a-loan-affect-your-credit/comment-page-1/#comment-244970 Regina Wed, 21 Sep 2011 15:26:57 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=981#comment-244970 I wish I had read this before I helped my sister.But I have a question since I co-signed she has been late on every payment and sometimes I wonder if she is going to pay!Let me explain the only way I would sign,I make the payment and she has to pay me that way I know the payment is on time and not late.What rights do I have?Can I go get the car that I am paying for,she refuses to pay full amount plus is extremely late every month if she pays at all!I hate to waste my money on something I don't have,times are to hard.It's a shame!!! I wish I had read this before I helped my sister.But I have a question since I co-signed she has been late on every payment and sometimes I wonder if she is going to pay!Let me explain the only way I would sign,I make the payment and she has to pay me that way I know the payment is on time and not late.What rights do I have?Can I go get the car that I am paying for,she refuses to pay full amount plus is extremely late every month if she pays at all!I hate to waste my money on something I don’t have,times are to hard.It’s a shame!!!

]]> By: Eve http://www.askmrcreditcard.com/creditcardblog/how-does-co-signing-a-loan-affect-your-credit/comment-page-1/#comment-225662 Eve Sat, 06 Aug 2011 23:40:36 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=981#comment-225662 I have been asked to co-sign for a college loan for my niece. As my brother has bad credit and was denied the loan he turned to me. Although he does not need to re-pay the loan till after she graduates, not until 2013, does my credit rating immediately get downgraded because I co-signed today or does my credit rating go down when he has to start re-paying the loan and it exists for the life of the loan? I mean from 2011 till 2013 is my "excellent" score "excellent" or am I immediately lowered because his score is low? Thanks. I have been asked to co-sign for a college loan for my niece. As my brother has bad credit and was denied the loan he turned to me. Although he does not need to re-pay the loan till after she graduates, not until 2013, does my credit rating immediately get downgraded because I co-signed today or does my credit rating go down when he has to start re-paying the loan and it exists for the life of the loan? I mean from 2011 till 2013 is my “excellent” score “excellent” or am I immediately lowered because his score is low? Thanks.

]]> By: Justin http://www.askmrcreditcard.com/creditcardblog/how-does-co-signing-a-loan-affect-your-credit/comment-page-1/#comment-137195 Justin Mon, 08 Nov 2010 22:18:50 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=981#comment-137195 Dear, I cosigned for my Ex-wife, and after a while she gave up the mobile home without my knowledge. Now the bank goes after me for the large amount of money. What do I need to do?. I do not have that much money to pay them. Thanks, Dear,

I cosigned for my Ex-wife, and after a while she gave up the mobile home without my knowledge. Now the bank goes after me for the large amount of money. What do I need to do?. I do not have that much money to pay them.

Thanks,

]]> By: Brenda http://www.askmrcreditcard.com/creditcardblog/how-does-co-signing-a-loan-affect-your-credit/comment-page-1/#comment-126699 Brenda Tue, 22 Jun 2010 18:01:14 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=981#comment-126699 where can I get a legitimate bad credit car loan? where can I get a legitimate bad credit car loan?

]]> By: Jacqueline J. Hostetler http://www.askmrcreditcard.com/creditcardblog/how-does-co-signing-a-loan-affect-your-credit/comment-page-1/#comment-125492 Jacqueline J. Hostetler Fri, 21 May 2010 18:55:22 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=981#comment-125492 I need some help please! Approximately two years ago, I signed some loan paperwork for my daughter's career training. She borrowed almost $10,000.00 from Sallie Mae. She went to school to become a dental assitant, she did graduate, but up until now still can't find a job and she's still without a job. According to my daughter, she has been making payments to Sallie Mae for what ever amount that she can afford, and of course Sallie Mae is very unhappy about it. They recently changed the loan into my name as a primary person instead of a co-signer; which I have no clues why and they have also threatened that they will turn me into at least one of the credit bereaus. Now, what I worry is are they going to have any rights to take anything that I have or own away from me without my permission or knowledge? Is there anything that I can do, since I feel that I shouldn't be responsible for this loan and I wasn't the borrower? Please help! Thanks! I need some help please! Approximately two years ago, I signed some loan paperwork for my daughter’s career training. She borrowed almost $10,000.00 from Sallie Mae. She went to school to become a dental assitant, she did graduate, but up until now still can’t find a job and she’s still without a job. According to my daughter, she has been making payments to Sallie Mae for what ever amount that she can afford, and of course Sallie Mae is very unhappy about it. They recently changed the loan into my name as a primary person instead of a co-signer; which I have no clues why and they have also threatened that they will turn me into at least one of the credit bereaus. Now, what I worry is are they going to have any rights to take anything that I have or own away from me without my permission or knowledge? Is there anything that I can do, since I feel that I shouldn’t be responsible for this loan and I wasn’t the borrower? Please help! Thanks!

]]> By: patricia http://www.askmrcreditcard.com/creditcardblog/how-does-co-signing-a-loan-affect-your-credit/comment-page-1/#comment-118044 patricia Wed, 09 Sep 2009 19:08:37 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=981#comment-118044 how soon after I've co signed for my daughter's car loan, can I remove myself from the loan....??? how soon after I’ve co signed for my daughter’s car loan, can I remove myself from the loan….???

]]> By: Alan Tomaso http://www.askmrcreditcard.com/creditcardblog/how-does-co-signing-a-loan-affect-your-credit/comment-page-1/#comment-113180 Alan Tomaso Wed, 22 Jul 2009 15:52:00 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=981#comment-113180 I stupidly co signed a loan, while in a separation with my Ex Wife. We were seperated, and separation papers said i was not supposed to enter any agreement of any type for a loan with her. I did. 6 months later, we divorced, and on the Court agrement, the part that suggest, PROPERTY AND DEBT, the vehical that the loan was attached to, was said to be hers. Now she has defaulted, claimed bankruptcy, on the older law, where as the debt was cleared from her name. Now i have a $17,000.00 debt on my credit. Am i responsible for this? I stupidly co signed a loan, while in a separation with my Ex Wife. We were seperated, and separation papers said i was not supposed to enter any agreement of any type for a loan with her. I did. 6 months later, we divorced, and on the Court agrement, the part that suggest, PROPERTY AND DEBT, the vehical that the loan was attached to, was said to be hers. Now she has defaulted, claimed bankruptcy, on the older law, where as the debt was cleared from her name. Now i have a $17,000.00 debt on my credit. Am i responsible for this?

]]> By: San http://www.askmrcreditcard.com/creditcardblog/how-does-co-signing-a-loan-affect-your-credit/comment-page-1/#comment-110821 San Thu, 25 Jun 2009 16:56:41 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=981#comment-110821 As a co-signer, will I still be liable if something happen to my child or person deceased (hope nothing happen just a curiosity)? As a co-signer, will I still be liable if something happen to my child or person deceased (hope nothing happen just a curiosity)?

]]> By: Vivian http://www.askmrcreditcard.com/creditcardblog/how-does-co-signing-a-loan-affect-your-credit/comment-page-1/#comment-104245 Vivian Tue, 14 Apr 2009 11:21:13 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=981#comment-104245 How about a car loan. I co-signed for my daughter. I've made several payments but can"t keep doing this. What's going to happen to me? How about a car loan. I co-signed for my daughter. I’ve made several payments but can”t keep doing this. What’s going to happen to me?

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