Credit counseling & cosigned loans
Date: Mon, 07/16/2007 - 12:21
My wife and I are looking into CC. The only thing that is stopping us is this... 2 of our major monthly payments is a large loan cosigned by her mother & a large credit card cosigned by her father. These two items r the biggest portion of our debt. If we enter into a CC program, will this reflect negatively on their credit.
Sincerely,
Rob Lancaster
email address removed as per forum rules - Mike
Sincerely,
Rob Lancaster
email address removed as per forum rules - Mike
Take the professional help if you are unable to continue with th
Take the professional help if you are unable to continue with the payments because of high interest rates. A debt consultant will set up a lower repayment plan with your creditors and you won't have any late fees added to the principal amount. Your credit will look good after all the debts are paid off through the plan. There are various options you may consider before enrolling in the program. The counselor will discuss everything briefly.
The co-signers are legally obligated for the full amount of thes
The co-signers are legally obligated for the full amount of these debts.That is probably why you are having problems with finding a program.
