Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Banking
Profile Image

Question By
wasme1234

0 Contributions
0 People Helped
Loan from FNB on my credit report whitch says its 4 payments late was paid off in JAN of 2016
I called bank and it is paid off what to do I co-sigend for this

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
9970 Contributions
4255 People Helped

When you co-signed, you guaranteed that the loan would be paid.  It is as if you had taken out the loan yourself, so it would show on your credit report.  Please take the time to read the articles here so you can learn how credit works and how to build a good score, since teaching about credit is the reason for this site.

Top Contributor
7816 Contributions
1467 People Helped

Probably not a whole lot that you can do, cosigning is a bad idea as it can cause you serious problems. Here is one thing that you should try. Do some reading on "Goodwill Letters". What you should do, is write to the offices of FNB, explain to them that you were unaware that the loan had late payments and if they would have contacted you, you would have made the payments promptly. Tell them that you've just become aware of this by looking at your credit reports and having these bad marks on your credit will cause you severe hardship. Etc. Etc. Be as polite and professional as you can with this letter, apologize, and hope that forgiveness to you may be given. It will really help that the loan was paid off. If the goodwill letter doesn't result in success, send another letter the following month and keep trying. Maybe start with your local office first, then try mailing a letter to the corporate offices and continue. Good Luck.

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.