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Does co-signing a loan for someone impact your credit report?
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yes it does. Also, if they end up not paying or filing bankruptcy on it you are stuck with it.
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It sure does. Make sure they make payments on time because they will report on your credit report!
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yes,it does effect ur credit report depending on the amount of money you loan someone
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Absolutely...shows on your credit report as a debt, just as it would if it were your own loan. Also, the payment history shows on your report, if the person you co-sign for becomes deliquent in their payments..it will have a negative affect on your credit report. Also, it will affect your debt to income ratio. . . I'd be very cautious co-signing for anybody. Especially if you have any doubt that they will make timely payments!
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Not only does it effect your credit, in some states, it can be a personal liability if that person gets sued. Be very very careful.
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