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What is co-signing a loan and how does it impact your credit score?
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What is co-signing a loan and how does it impact your credit score?
Source: Live Mint Co-signing is often considered a show of trust and support in the personal finance world, but the shared liability that comes with that goodwill can have long lasting consequences on your credit health. Understanding co-signing When you co-sign, you are committing to pay the loan or line of credit should the principal borrower default. This help for someone else can ultimately be of benefit to those with weak or limited credi…
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