Hey all - I have been following this board silently for months, until recently not posting... i enjoy the personalities and straight forward and sound answers here.... my question today is this... I have worked quite a bit on my credit in the last 4-6 months. Have made some improvements and even qualified for a CC. Now i learn that one of my cosigners (who originally had excellent credit) is filing bankruptcy. I have tried to talk her out of it to no avail. Can anyone tell me how this may affaect MY credit seeing how she is the cosigner... these accounts have perfect payment history for several years now..... hate to see them be detrimental to my credit after all i have worked for. Dan
Is this individual a co-signer on a loan of yours, or are you an authorized user on their account? If it's the former, I wouldn't imagine that it would cause any trouble. The latter: a different story.
No.... she is a co-signer... my credit alone couldn't do it at the time... for a GEMB account and my CitiAuto account.
Don't take my word as gospel, but I believe that the only time a lender cares about a co-signer's credit is during the application process and if/when you default on the loan. If you've got a history of perfect payment and you maintain that, it shouldn't be a problem.
