Good co-signer erase co applicant's bad credit?

J-HUSTLE

J-HUSTLE

New member
If a person has horrible credit, current late ect, scores low 500's would a cosigner with great credit get a personal loan for them? In other words do they even look at and consider the persons bad credit or just go by the higher score good credit person to make a decision?

Is approval easier for line of credit or pers loan?
 
It's not easier for one or for the other lol...


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J'espere que tu veux pas emprunter sur une marge de credit pour commencer a faire du day trading et en plus avec un cosignataire ???
 
J-HUSTLE said:
Does the cosignor need impeccable credit to cosign for someone with bad credit?
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my sister turned 18 and had no credit so I cosigned for the car she bought at the time

they didnt really look much at her credit since she pretty much didnt have any, but because mine was good they approved the loan

that being said though, if your credit is SHIT... because of late payments all over and or bad debt ratios.... even with a good cosigner they can refuse you
 
Moi je voulais emprunter 20k pour un kit turbo sur ma prélude 94 l'an passé pis la banque à pas voulu :(
 
Traule said:
I you need a cosigner, you can't afford it.
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Well even if you can afford it but just want a line of credit in case of emergency, you might need a cosigner either way. i.e. TD requires a co-signer for student lines of credit.
 
J-HUSTLE said:
If a person has horrible credit, current late ect, scores low 500's would a cosigner with great credit get a personal loan for them? In other words do they even look at and consider the persons bad credit or just go by the higher score good credit person to make a decision?

Is approval easier for line of credit or pers loan?
Click to expand...

Trop peu d'information pour bien répondre. La personne qui veut du crédit, premièrement elle travaille? Si oui combien qu'elle déclare? Si son crédit est magané à cause de retard, c'est pas mal certain que l'analyste va lui demander un co-emprunteur et le taux sur le prêt va être pas mal plus élevé.
 
Twon said:
Trop peu d'information pour bien répondre. La personne qui veut du crédit, premièrement elle travaille? Si oui combien qu'elle déclare? Si son crédit est magané à cause de retard, c'est pas mal certain que l'analyste va lui demander un co-emprunteur et le taux sur le prêt va être pas mal plus élevé.
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Loan is for myself, had couple accounts in collections which i paid off in full to each account in may of of '15. Currently work fulltime for the past 8 months steady at 37k salary. Had a voluntary repo in oct 14 thats ruining my credit. My gf is is the cosignor with good credit in the high 600s and my credit is currently at low 500s with one 0balance mastercard
 
Sole reason im looking for a loc is to pay off some personal loans and i figure repaying the line of cred will improve my credit for possible mortgage in the future.

My cosignor is wrkng fulltime steady for over 2yrs with solid cred no late pmts ever.
 
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