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Question By
Jlh24

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How will my Credit score be affected
I co signed on a vehicle and I can not contact the person and they are late on payments. My credit is very good.

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Late payments will affect negatively you just like they affect the purchaser.  Unfortunatley you have little choice in the matter except to get ahold of them and have them make the payments on time. 

You can, if you like, elect to sue them in court and take possesion of the vehicle if by their actions they are damaging your credit.  You would have to consult a lawyer to validate that last statement.  You would also at that point assume the payment responsiblity.

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As you are unfortunately learning, co-signing for anyone is not a good idea.  Their credit is too shakey when a co-signer is required.

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