Congress passed a credit law that allows you to challenge items on your credit report with the different credit bureaus. Many lending companies would grant a bad credit car loan provided that a co-signer is willing to guarantee the repayment. “Bad Credit OK ; No References”
Need Money? Protect your Cosigner from Liability Another important factor to consider is your cosigner’s credit history. Once your auto loan has been approved, how you handle your repayment can also affect your cosigner’s credit history. To protect your cosigner credit, you must do your best to submit your loan payments without delays.What if you can’t submit your monthly car loan payment on time? Perhaps your cosigner may volunteer to lend you your loan payment for this month. Being consistent with your payments does not only protect your cosigner’s credit, it also helps you to rebuild your bad credit.