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Sandem01

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If we have an excellent score but one account gets bad marks, how much would our score go down?
We have a great score of 754 with a long history and plenty of different accounts we are making payments to. We pay off cards regularly and always pay everything on time. HOWEVER, a dangerous situation has presented itself. I (stupidly) cosigned a student loan for my niece about 7 years ago. She is just now having to pay it back and is really struggling. She also kept deferring it until the initial 18k that was borrowed ballooned to 32k. With all of the good credit, history, etc., what would it take for the score to lower significantly? She was three months late paying it when this first came to light that she could no longer defer her payments and they did not ding our credit. So far they seem to be playing nice. Also, the loans are all private Sallie Mae, not federal.
Thanks.

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Top Contributor
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What usually happens with something like that is that it'll drop your score a decent amount, which when these other credit card companies review your file, they could then decide to increase your APR or lower your credit limit, or even close your card.  If your card is closed or your limit is lowered, this lowers your credit score more.

It's a cascading effect. 

I'll add here that I misread your post & thought that she was just going to let it go delinquent.  One late payment will dent it a bit, but not cause the doom & gloom I posted up above..

I've not heard of a credit card company that reports a payment deliquency until it's been at least 60 days overdue, 90 days is the norm.

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