Credit Myth #2 – Co-signers Have No Responsibility Before you co-sign for a loan, think twice about this myth. Anytime you co-sign on an account or you have a joint account with someone, you also have legal responsibility for this account. The activity on the account will show up on your credit report, even if you only co-signed for the account. This means that if you co-sign for a family member’s car loan and they miss their payments on a regular basis, your credit is going to suffer. To avoid this, you will have to be officially removed from this account by the creditor. Go to YourScoreAndMore to try us out for just $1.00 today. Call us Toll Free at 888-387-0890 if you have any questions.
Posted on: Wed, 07 Aug 2013 00:40:02 +0000
Trending Topics
Recently Viewed Topics
© 2015