If a person co-signs (not me, I ain't that stupid) for a car loan and the person defaults, is the co-signer responsible and does it hit on their credit scores?
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Thread: Co signing stuff
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05-09-2009, 03:37 PM #1Ol' School
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Co signing stuff
I made this post all by myself with no supervision.
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05-09-2009, 03:41 PM #2Bob the Builder says:
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yes
The democracy will cease to exist when you take from those willing to work and give to those that are not - Thomas Jefferson
Originally Posted by pOrk
2008 Yamaha FZ6
2005 Silverado 2500HD 4x4 duramax
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05-09-2009, 04:31 PM #3I wanna go fast...
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it affects that "co-signer" as equally as it does the owner. so all those missed payments are just as bad as the default on the loan
sucks to be that person.
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05-09-2009, 05:54 PM #4In your face, Space Coyote....
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Yes, and it can potentially destroy the co-signer's credit rating.
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05-09-2009, 06:33 PM #5Newbie
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yes, they go after you like you are the orginal leasee of the vehicle
How would you like a nice ham sandwitch?
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