SPIFIMAN1
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It depends.
You did not state what the payments are for.
If it's a car or a home the payments are not reported as late until they are 30 days past the due date, so if she is paying before that your credit is not getting hurt, but she is racking up a ton of late charges. |
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Ralfcoder
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It will if you're not stepping in and making the payments on time. That's what co-signing means - that YOU guarantee that the payment will be made, on time, every time, if your friend doesn't make it. That means that this will also show up on your credit report. |
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Muschi
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Yes! Don't ever co-sign for anyone! If the loan co. can't get the money from your friend they'll come to you! You're as much responsible for the loan as your friend. |
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Princ3Zz!
 |
yes it would cause this is what happening to my daddy!! |
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daeve930
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It depends on whether the creditor reports those kind of late payments. Many don't report until the account is 30 or 60 days late. BUT anything reported on that account will go on your credit report.
I second the motion: never co-sign anything for anyone. |
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taz4x4512
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Get off of the loan ASAP. Most companies won't report a late payment until you're 30days or more behind but if she's already starting to pay the payment late it's just going to get worse. As a co-signer you are promising to pay if the primary does not. So they can come after you and will if this continues. |
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alex
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there's usually a grace period so you are fine, but if she pays more than 30 days late then it will affect your credit. |
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bdancer222
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Looks like your friend is about to become a former friend. She's getting awfully close to that 30 day mark and that will kill your credit.
Since your soon to be former friend isn't responsible enough to make the payment on time, you should just plan on making the payment yourself so you know it will be on time. Have your friend give you the money and don't let her get away with being late.
I hope this isn't too much money. You're about to become a believer in never co-signing for anyone! |
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serene e
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You are screwed, my friend. Never co-sign for anyone!!
If they are flakey, your credit is down the drain!! |
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blondecougaress
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YES! this is the thing about co-signing. You are vouching for this person's ability to pay. Co-signing usually occurs when an individual's credit is not good enough on its own for the desired purchase. You are putting up your own credit as collateral. Your friend is not being very considerate of your good will. |
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Paulette
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It most certainly will.
Might I suggest that you make a payment to get her payments early. That should improve the credit problem. |
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Solly Flush
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I would confront your friend and ask her/hiom why they are trying to screw over your credit...IF she/he does not pay on the loan, then you have to pay on the loan...Itwas a bad idea co-signing a loan for some one...
BEst of luck |
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Sgt Big Red
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As a co-signer it would only harm your credit if she defaults on the loan, then they would come after you for the balance owed.
her being late only affects her credit score, not yours. |
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#1 bossman
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yep....live and learn...this is one of the worst mistakes anyone can make, and if you don't make the payments that are late, it will ***** your credit just as if it were hers, because by cosigning, you garaunteed she would make the payments on time or that you would step up and do it if she didn't.....like my grandpa always said...if you're going to be stupid, you'd better be tough.....or have the money stuck back to make her payments, as the case may be.... |
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beaupamer
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Don't trust your best friend, they always the one stab behind your back if he/she don't like you. YEs... it gonna hurts your credit, because is late. Will show on your credit report. Talk to her. |
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jgilbertdo
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yes,sir it will hurt your credit been there done that |
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