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Credit scores

Started by Phu Cat, February 09, 2009, 11:43:54 AM

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Phu Cat

February 09, 2009, 11:43:54 AM
Does co-signing for my daughter's auto loan lower my credit score much?

PC
Too much horsepower is almost enough.

BLM777

February 09, 2009, 11:56:37 AM #1
Quote from: Phu Cat on February 09, 2009, 11:43:54 AM
Does co-signing for my daughter's auto loan lower my credit score much?

PC

Will show up as an outstanding loan.  Really doesn't lower your score if paid on time, but may upset your debt to income ration which could make additional loans a problem.

~JC~

February 09, 2009, 12:16:08 PM #2
Also, your credit rating will be tied to hers. If she goes down (overdue CC, etc), yours will go down too. Can be risky. ~JC~
If I had to understand, You wouldn't explain.
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