How much greater are one’s chances to obtain a personal loan with a cosigner? The cosigner has great credit
kimbohall@sbcglobal.net asked:
I have rather poor credit and am in the process of paying off all of the existing deb. If a cosigner has immaculate credit, are my chances much greater in obtaining that loan?
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I have rather poor credit and am in the process of paying off all of the existing deb. If a cosigner has immaculate credit, are my chances much greater in obtaining that loan?
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Tags: Cosigner, Personal Loan, Poor Credit
May 28th, 2009 at 12:24 pm
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MUCH Greater!
May 31st, 2009 at 3:00 am
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Yes.
May 31st, 2009 at 4:26 am
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It’s so much easier to do it that way.
June 2nd, 2009 at 10:05 am
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Yes, but you’re putting the co-signer into an awful position.
June 3rd, 2009 at 6:10 am
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I dont care screw this!!!!!!!!!!
June 3rd, 2009 at 8:49 pm
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If you have poor credit (or no credit), having a co-signer does increase the changes of a loan being granted.
NOTE: The if your credit is very poor (or if you do not have any), the co-signer will be the primary account holder and holds all the liability if you fail to meet the obligations of the loan. If you are late for any payments, it reflects on your co-signer as well…
June 4th, 2009 at 8:13 pm
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It is almost 100% with a great cosigner. Banks are really making them the loan then, you just benifit from it.
June 5th, 2009 at 4:36 am
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much better
June 6th, 2009 at 1:20 pm
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Yes they loan the money to your cosigner more than to you. They know with your bad credit you probably won’t pay it back but the cosigner will have to if he wants to keep his credit rating.
Cosigning for someone with bad credit is a sure way to lose money and a friend. Don’t ask me to cosign.
June 8th, 2009 at 8:44 pm
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your chances are usually alot better. when getting your first loan you usually need a cosigner because banks don’t want to take a chance on someone that has never had a line of credit or has poor credit
June 11th, 2009 at 2:21 am
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Try this website. My friend got a loan from there. Its like the ebay of loans.
Prosper.com