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I filed for Bk 13 on 12/23/2009 so I still have 3 more years to pay to get a discharge. I filled out an application to Rent an apartment and was denied because the BK was not discharged yet. They said that they can re-view my case if I get a co-signer. Question: Will this affect the co-signer's credit? My daughter said she could do it but she is planning to buy a house in 2 or 3 months and I don't want her to have problems with her credit because she is my co-signer in the apartment.
Optional Information: State/Country relating to question: California Already Tried: nothing so far.
Good afternoon (almost). I'm happy to assist you today.
So, as I understand your question: Will co-signing for your new apartment have an impact on your daughter's credit, right?
Thank you. Happy new year.!
Happy new year to you as well. Thanks!
Yes.
OK. So, the answer is: it may or it may not. Here's why: depending on what type of Landlord you have (an individual, small (one building) company, or a large company (with major apartment complexes), the landlord may or may not report the lease to the credit bureaus.
Your best bet would be to ask the prospective landlord if they report to the credit bureaus.
And, even if they do, the lease may not impact your daughter's credit, depending on what the rest of her credit report looks like.
And, lastly, if they report to the credit bureaus, her mortgage broker may be able to "discount" such an entry on the credit report (it will show that she's a co-debtor) as just that....a co-debtor.
I hope this helps you and ask that you remember to click the "accept" button so I can get proper credit and compensation for my assistance today.
If you have any further questions or would like something clarified, please let me know.
Thanks and best of luck to you in the coming year!
Cara
Experience: Highly experienced in Chapter 7 & 13 bankruptcy.