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Posted in Student Loans
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Question By
billo2828

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Child was late on college loan which I am cosigner
In March 2014 I took a hit on my otherwise pristine credit score. Found that my son was late two different times on his NJ Class loan which I cosigned. I subsequently paid off the balance but my Experion credit score took a big hit, however I show no such hit on transunion. I know I can't get this removed from my credit report but is there ways to reduce the impact?

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If it were me,  would have my son that made the late payments call the loan company up and find out what it would take to remove both or just one of the late payments.  He needs to Call ( and not just once or twice ) and/or  write letters what ever it takes.   He mess up someone elses credit because he did not take responsibility seriously.   He could have communicated with you at the least that he could not make the payment on time.

This is why people should never co-sign for any type of loan.

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