2006-11-05 03:08:22 · 9 answers · asked by CS 1 in Business & Finance ➔ Credit
It will not hurt your credit if you pay off their bill. If you do not, then it will. After all you did promise to pay if they do not.
2006-11-05 03:21:49 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes. You have co-signed the Loan.....You agreed to pay the Loan Debt in the event the Primary person defaults.
If a Payment is "Missed" your credit will be adversely impacted.
Telephone the Company involved and make up "missed payments" and they may NOT report you to Credit Bureau.
Either way, you are responsible if the Primary Debtor defaults.
Good Luck.
2006-11-05 03:21:55 · answer #2 · answered by Mav 6 · 0⤊ 0⤋
ABSOLUTELY! You will be the one the company comes after to pay the bill/loan. If you can't pay, it will show up on your credit report, for 10 years, unless you pay it off.
2006-11-05 03:19:51 · answer #3 · answered by US Lisa 3 · 0⤊ 0⤋
Yes it will. The cosigner has to pick up the bill or else they're also ruined.
2006-11-05 03:11:19 · answer #4 · answered by Geneddly 4 · 1⤊ 0⤋
Absolutely! As a co-signer you are just as responsible as the signer for on time payments.
If they are not paying/late paying, it will show up on your credit report.
2006-11-05 03:11:00 · answer #5 · answered by Gem 7 · 3⤊ 0⤋
Yes, unless you take care of the bill. careful when you "co-sign" as your name is a part of the contract..
2006-11-05 03:10:45 · answer #6 · answered by steinwald 4 · 2⤊ 0⤋
Yes it can. The late or non-payment will be listed on your report as well as theirs.
2006-11-05 04:47:26 · answer #7 · answered by Mariposa 7 · 0⤊ 0⤋
yes
2006-11-05 03:10:49 · answer #8 · answered by Just Me 2 · 1⤊ 0⤋
absolutely. Don't ever do it unless you are prepared to pay that debt.
2006-11-05 03:10:30 · answer #9 · answered by Anonymous · 2⤊ 0⤋