03-20-2007 08:45 AM
I cosigned with my daughter on her student loan many years ago.I pulled my most recent report and discovered 2 (30 day) late payments ,Oct. 2006& Dec.2006.This loan is was paid in full in Feb.2007.I'm concerned with how this will affect my credit score which averaged 800.Is there anything I can do to change how these late payments affect my score as a cosigner?
Not really, when you sign on as a co-borrowe
r, you are eq...
03-20-2007 10:04 AM
Not really, when you sign on as a co-borrower, you are equally responsible for the debt so it will hit your CR. Your scores were in the 8s, how are they now? A 30 day is nowhere near as devastatign as a ninety day in about six months you probably shouldn't see a real difference in your scores. Time will cure all so if you're still mid 7s you shouldn't have a problem and most lenders will overlook the cosigned loan as they realize you may not have been aware that they went past due for such a short period of time.