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  1. #1
    Join Date
    Mar 2009
    Posts
    1

    Default Can My Cosigner Affect My Credit Score Negatively

    My question involves a credit report problem in the State of: Florida.
    I Financed a car in 2007 for 6 years, and a friend was my cosigner at the time he had a very good credit, and I had no credit at all. After a few months I checked and had a 704 Credit Score, after that I got a Credit card and since them my limit has been even raised. My question is: I'm still in the loan and both my name and my friends name is on the loan, Last month my friend decided to stop paying his mortgage, and go into short sale or foreclosure, that Will definitely make his Credit Score drop, But will that affect my credit score as well (Will it make it drop)? Thank you so much for taking the time to read my Thread.. Thank you in advance for responding to it. Have a great day

  2. #2
    Join Date
    Jul 2008
    Posts
    853

    Default Re: Can My Cosigner Affect My Credit Score Negatively

    No. Your score is only based upon the items in YOUR credit file.

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