Can a co-signer gain access to my report?

Credit Report & Score Guide Forums Credit Report Forum Can a co-signer gain access to my report?

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  • #16865
    Robin
    Guest

    Do co-signers have a way of viewing my credit report as part of the co-signing process? Does the creditor disclose my credit history to my co signer?

    My brother has agreed to co-sign on my auto loan, but he has no idea just how much my credit is bad, and I’m afraid that if he learns about it he’ll refuse to co-sign.

    #16913
    Stacy Wall
    Keymaster

    No, co-signer can’t access your credit history

    Lenders are not allowed to disclose YOUR information with anyone, not even a co-signer.

    Regardless – you really should disclose it to him yourself, even at the cost of him backing off. Co-signers take a huge risk on themselves when they co-sign. You can mess HIS credit very easily, and so you are expected not to hide the truth from him.

    In fact, I advice people to NEVER co-sign, or at least sign only after they’ve seen the credit reports of person they’re co-signing to, and are fully aware or the risk.

    Any late payment will spill directly to the co-signer’s credit report as well as to yours.
    Co-signers are usually NOT informed on late payments until the account goes 90 days past due, by which time major damage is done to the co-signer’s credit.

    If you face a problem meeting payments, make sure to alert your co-signer immediately, BEFORE any damage is done.





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