Posts Tagged ‘ co-signer ’

Bank may not notify you when cosigner fails to pay

Dear Experian, I co-signed my son’s auto loan. He was over 30 days late on one payment. Why should that impact my credit score when I was never notified by the lender or asked to make the payment? I knew I was responsible for the loan balance if asked to pay. But, I had no idea that my credit score would be lowered when I was never asked to make a payment. - JHP

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