Quote:
Originally Posted by FireFly
See, when I went in for a consolidation loan, the bank told me that they would need a co-signer. This would have been my parents and it would have solely been on their credit and affected their credit rating. Mine would not be affected either positively or negatively as it would be their credit I was using.
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Thats correct, basically when they require a co-signer its because your credit isn't good enough to secure da money, so they need someone who has good credit to secure the loan.
I had to get my folks to co-sign for my car loan after I got out of school because I had no credit whatsoever.