bell notificationshomepageloginNewPostedit profiledmBox

Hoots : Cosigner bought a new car I bought a car last year but I needed a cosigner. This past month the cosigner also bought a car. If the cosigner doesn't make payments on time on their car payment, will it impact my credit - freshhoot.com

10% popularity   0 Reactions

Cosigner bought a new car
I bought a car last year but I needed a cosigner.

This past month the cosigner also bought a car.

If the cosigner doesn't make payments on time on their car payment, will it impact my credit since they are a cosigner on my loan?


Load Full (1)

Login to follow hoots

1 Comments

Sorted by latest first Latest Oldest Best

10% popularity   0 Reactions

The only thing that ties you together is the car loan he consigned. Someone must make that payment or both your scores will suffer.

If he defaults on other debts, your score isn't impacted, as you didn't sign for those debts, only yours. The only thing that comes to mind is if he files for bankruptcy, and has all debts discharged. In that case you may lose him as a guarantor on your loan.


Back to top Use Dark theme