I cosigned with my son 4 a truck, he lost his job, I can't afford to make the payment. I have fantastic credit,was wondering how bad this would affect me, how long? I could get a signature loan, get it caught up but could end up in same situation later.
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it will affect your credit and it will show in default until it's paid for. If they reposses it , it will still be on your report for up to 7 years. That's why they say never co sign on anything unless you can afford to pay for it. -
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