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View Full Version : Co signing stuff


lordairgtar
05-09-2009, 03:37 PM
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?
88Nightmare
05-09-2009, 03:41 PM
yes
Crawlin
05-09-2009, 04:31 PM
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.
Voodoo Chick
05-09-2009, 05:54 PM
Yes, and it can potentially destroy the co-signer's credit rating.
Autocepticon:Skidmar
05-09-2009, 06:33 PM
yes, they go after you like you are the orginal leasee of the vehicle