I purchased a car for my daughter and she cannot make the payments. Will this go against my husband's credit if he did not sign anything?
Someone co-signed the car loan note for your daughter, probably you. If payments on a loan are delinquent, it's likely that negative credit information will be reported to credit reporting agencies in the names of all of the parties who are liable on the loan note, whether they co-signed the note itself or provided a separate guarantee of payment. If you co-signed the note for your daughter, her poor payment record will be reflected in your credit history as well as hers, but it should not affect your husband's record at all.
If no one co-signed the note or offered a guarantee of payment, the payment record should only affect your daughter's credit history.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
Someone co-signed the car loan note for your daughter, probably you. If payments on a 