jmh60441 asked:
My ex-wife really damaged my credit a couple of years ago. I need a vehicle now as I’m switching employer’s and have to give up my company car. I make good money, so the payment is not an issue, it’s just really unfortunate that my credit still suffers as a result of my divorce two years ago. My question is that if my girlfriend co-signs for me to get a favorable rate, will it affect her ability to purchase a vehicle, say a year or so down the line?
Defaulting on the loan won’t happen, but won’t her debt to income ratio be more limiting her ability to get a vehicle?
Yes it has been two years, but the cards were closed that she opened in my name and are shown on my credit as “charge off’s”. As part of the divorce agreement, I paid $12k to settle/close all of these accounts. I don’t have any credit cards now and no balances.
Bonnie
My ex-wife really damaged my credit a couple of years ago. I need a vehicle now as I’m switching employer’s and have to give up my company car. I make good money, so the payment is not an issue, it’s just really unfortunate that my credit still suffers as a result of my divorce two years ago. My question is that if my girlfriend co-signs for me to get a favorable rate, will it affect her ability to purchase a vehicle, say a year or so down the line?
Defaulting on the loan won’t happen, but won’t her debt to income ratio be more limiting her ability to get a vehicle?
Yes it has been two years, but the cards were closed that she opened in my name and are shown on my credit as “charge off’s”. As part of the divorce agreement, I paid $12k to settle/close all of these accounts. I don’t have any credit cards now and no balances.
Bonnie
