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Posted in Auto Loans
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Hollycat123

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Does one delinquent account ruin a score?
My credit score is terrible. But I've never missed a payment on any of my accounts, they're just high balances, one collection, and my ex's car, which I co-signed on. He's been consistently late for over a year - 13 missed payments. If I pay all my personal debt down over the next few months (the collection falls off next year), will that one account still kill my score? Even a fair score would be nice.

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Top Contributor
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An account with 13 negatives is not really looked at as 1 negative, it is looked at as 13 negatives, so yes, unfortunately it will continue to hurt your scores and credit profile. Paying down your debt will help though and the collection falling off will as well. If the loan is still open on your ex's car that you cosigned for, you might want to consider speaking to an attorney and see if you can take possession of the car and sell it to pay off the loan, if enough money could be recouped from it to pay off the loan.

I feel terrible for you, you try to do a good thing for someone and this is how they repay you. Let this be a lesson to anyone reading this post in the future, DON'T COSIGN!!

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