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Not reaffirming auto loan, effect on the other borrower

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LdiJ

Senior Member
You will be doing serious damage to the other's buyer's credit.

If the other buyer is someone you care about, you had best either reaffirm the car loan or at least discuss the situation with them. In my opinion there is a special place in Hades reserved for people who do this to co-buyers/co-signers.
 

FlyingRon

Senior Member
He won't be affecting the other borrower's credit AT ALL. It is the other borrower who needs to be following what he agreed to do when he signed for the loan. That is, even if the other coborrower craps out (bankruptcy, death, or whatever reason), that he will still live up to the agreement left action be taken against him (lawsuits, detrimental credit reports, etc....).
 

LdiJ

Senior Member
He won't be affecting the other borrower's credit AT ALL. It is the other borrower who needs to be following what he agreed to do when he signed for the loan. That is, even if the other coborrower craps out (bankruptcy, death, or whatever reason), that he will still live up to the agreement left action be taken against him (lawsuits, detrimental credit reports, etc....).
He/she WILL be affecting the other borrower's credit. Sure if the other borrower can afford to make the car payment and actually has a use for the car it won't effect them, but what are the odds that is the situation? Clearly the car cannot be sold for the amount still owing on it.
 

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