Questions about Credit Score?

If someone acts as your co-signer, does your loan show up on their credit report, or is it only noted if the person taking out the loan defaults and the cosigner has to take over payment?

Questions about Credit Score?

If you have a co-signer, the loan is in both of your names. Therefore the account will come up on both credit reports and so will the payment history, which will affect the credit score.

Questions about Credit Score?

yes it will show up on both parties credit report and it will show if it has been defaulted. regardless of who is making the payment it will show up on both reports .

Questions about Credit Score?

If you have a cosigner, the loan will be on both of your credit reports.

You are ultimately responsible for the loan... the finance company is planning on YOU paying the bill, not the first signer. If the first signer is late, they will call YOU (the co-signer).

You should never co-sign on a loan. The finance company does not trust the person to pay them back... neither should you.

Questions about Credit Score?

It is usually reported in both names.

Questions about Credit Score?

A cosigner is responsible for the loan as much as the 1st signer. The loan will show up on the cosigners credit report and any late payments will be reported under his/her name just as it will the 1st signer.

If the 1st signer defaults on the loan the cosigner is responsible for the balance of the loan.

Questions about Credit Score?

The cosigner is no different than the primary borrower. You are agreeing to be responsible for the debt if the other party defaults. It will report to you credit and either be positive (if they pay) or negative (missed payments). If the other person runs away the creditor will come after you for the money.