cancel
Showing results for 
Search instead for 
Did you mean: 

I should know this but I dont...

bamagirl1
Established Contributor

I should know this but I dont...

If I co-sign on a loan for someone, does it show up on my credit report? (the loan that is) or does it only show on the person's credit report that the loan is for..?
~01/2008 Ficos TU 571-EX 647-EQ 652~
~3/21/2009 Ficos TU 705 EX 702 EQ 692~
~9/9/09 Ficos TU 718 EQ 693 EX???
~06/25/12 Ficos TU 719 EQ 677 EX??
Message 1 of 9
8 REPLIES 8
score_building
Senior Contributor

Re: I should know this but I dont...

good question.  i'll guess yes but it may depend on  the type of loan and the issuer.

you may want to try general credit issues forum for best response...

DCU EQ 5.0, Citi EQ 08 Bankcard, PenFed EX NG2
EX 08: AFCU, Amex, Chase, PSECU EX 98(?)
TU 08: Barclays, Discover
Message 2 of 9
Creditaddict
Legendary Contributor

Re: I should know this but I dont...

yes it will be on your credit as a joint account.
Message 3 of 9
bamagirl1
Established Contributor

Re: I should know this but I dont...

wasnt sure if it followed the same rules as a credit card, so it will be joint? hmm
~01/2008 Ficos TU 571-EX 647-EQ 652~
~3/21/2009 Ficos TU 705 EX 702 EQ 692~
~9/9/09 Ficos TU 718 EQ 693 EX???
~06/25/12 Ficos TU 719 EQ 677 EX??
Message 4 of 9
debtisgood
Valued Contributor

Re: I should know this but I dont...

Yes, because even if they are the primary, you are each liable for the entirety of the debt in full - so if they stop making payment, the bank/lender will report you as being delinquint.
Message 5 of 9
fender
Established Contributor

Re: I should know this but I dont...

My sister tried to get me to co-sign to get her a new car, i said no way.. she got someone to do it for her, 6 months later.. re-po.
"WTB Access Number"
Message 6 of 9
My2cents
Regular Contributor

Re: I should know this but I dont...

Fender it looks like you know your sister better than the silly co-signer.  Sorry the silly cosigner wasnt one of your family members was it?

 

 

Probably should have keep My2centsSmiley Sad

700 Club Member
Message 7 of 9
fender
Established Contributor

Re: I should know this but I dont...

Nah she got a friend to do it.  Im sorry but I dont trust anyone enough to do that, I wouldnt do it for family unless I could and would be willing to take over payments if I had to.
"WTB Access Number"
Message 8 of 9
cartercorp
Established Contributor

Re: I should know this but I dont...


@fender wrote:
Nah she got a friend to do it.  Im sorry but I dont trust anyone enough to do that, I wouldnt do it for family unless I could and would be willing to take over payments if I had to.

 

i agree with ya 100%......There is no way no how i would do it, Unless it happen to be a matter of life or death..
Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.