Hey, I'm looking to get a loan from my bank however, I need my dad to co sign for me due to my insufficiant credit. He owns his house and owns a car etc.. Can his help really push me over the top for a 8k loan?
I dont see why not. Having him cosign should help IF his credit is good, however, if the cosigner has bad credit than the loan can either be denied or a higher interest rate versus a cosigner with good credit.
I would be carefull getting someone to co-sign. I think its different with no-credit then bad credit. Remember the tradeline goes on his CR. It effects there credit to income ratio. If your late He is late. You could really screw up there credit.
I understand that completely. My father already told my if there was a problem ever he wants me to let him know so he can cover for me so nothing negative shows up on the credit report.
