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2trusting

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Co-Signer problems............
My son lost his job and had both an auto loan and a mortgage he couldn't pay. As I am retired and on a fixed income, I couldn't pick up his losses. Now my credit has been negatively affected and I would like to at least be able to attach an explanation to these negative reports (as I am sure I cannot be removed entirely). Is there a way to do that, and will it help a little?

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Top Contributor
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Both of you need to read up on Dave Ramsey, 

Nobody should EVER Co-Sign for any loan if they do not have the money to pay for it right then and there and are willing to Pay for it in full if the person they are co-signing for defaults on the loan.

When you Co-Sign you are stating that you will make the payments.   There is nothing you can attach to your credit report that will change the fact that you signed the paper work. 

You can try to have something attached to your credit report but it won't help with anything.

again you signed the paper work stating you are backing up your son that he is good for the payments and if he can't make the payment then you will make them for him.  thats all that matters to the lendor.

Sorry.

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