Posts Tagged ‘ cosigning ’

Being removed from an account after cosigning

Dear Experian, I am a cosigner and the secondary user on a credit card. I am not the primary user. I want to get my name off of the credit card. I called the credit card company, and they will not remove me. Is there a way to remove my name? The primary user tried also, and they still won't do it. - WKN

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Getting removed as joint credit card account holder

Dear Experian, I am a cosigner and the secondary user on a credit card. I am not the primary user. I want my name removed from the account. I called the credit card company, and they will not remove me. Is there a way to remove my name? The primary user tried also, and they still won't do it. - WKN

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Cosigning for apartment could hurt but might help credit scores

Dear Experian, My grandson wants us to cosign for an apartment. Does this affect our credit score in any way or just if he doesn't pay rent? - MTP

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Cosigning mortgage for daughter can impede access to future credit

Dear Experian, I cosigned on a mortgage loan for my daughter. My credit report shows this as my mortgage, even though I am not making payments. Does this reflect on my credit if I want to take out a loan in the future? And if it does, what can I do about it? - ZIM

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Deciding whether to cosign a car loan for your son or daughter

Dear Experian, My son has less than perfect credit but was told by his bank he could get a car loan with a co-signer. I have extremely high scores and do not want them lowered for any reason under my control. Assuming all of his loan payments are made on time and the loan always remains current, will this negatively affect my credit scores? - BOA

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Potential consequences of cosigning an apartment lease

Dear Experian, Is there any affect on your credit report and getting a loan in the future if you are a cosigner for an apartment? - ICL

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Girlfriend stuck with motorcycle debt when boyfriend ends relationship

Dear Experian, My daughter was talked into purchasing a motorcycle for a friend of hers and now he doesn't want it and is thinking of dumping my daughter. If she voluntarily returns the motorcycle to the dealer, will her credit be ruined, and if so, for how long? If she is not able to pay a deficiency, will a judgment against her affect her credit? - GBH

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Being a cosigner can help build your credit

Dear Experian, I currently have no credit. Not bad credit, no credit. I am interested in purchasing a new vehicle and a family member has offered to cosign. However, we've been offered zero percent interest because of her excellent credit but only if she's the primary and I cosign. If we do this and I am the one who makes the payments monthly, will me being the cosigner give a positive effect and establish my credit? - SSL

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Be very cautious about cosigning your girlfriend’s or boyfriend’s lease

Dear Experian, I am thinking about cosigning an apartment lease for my girlfriend. I would not live there. I know that if she makes a late payment or doesn't pay that I will be responsible for the lease payments and that it will show on my credit report. But, will the simple fact that I am a cosigner show up on my credit report if I want to apply for a loan or mortgage for myself? Assuming she pays as agreed will cosigning affect my credit score? - LYB

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Cosigning for stepson can hurt your credit report

Dear Experian, I cosigned for a car for my stepson. I thought that if he didn't pay I would be responsible for the loan, and I was fine with that. What I didn't realize is that if he was late with his payment, my credit would be affected. I had a credit score of 803 when I signed. He missed payments, and now my credit score is lower. Even though this is not my loan, will my credit report be affected for seven years? Is there a way to correct this? - LPH

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