Co-borrowing on a loan

If the late payment had a negative impact on her credit, it will affect your loan application.

Hi ZED,

The late payments will have a negative impact on the loan application as the lender has the right to check the credit just before it gives out the loan. May be you will have to take out the loan alone.

Thanks

How strong the likelihood is that your loan will be denied hinges on several factors affecting credit score. One is how late the payment was –if it was 30 days or less are generally not as damaging. Two is how long ago the delinquent payment was because the more recent it is the more likely it is to affect your loan application. And three is how much her score suffered. If you both are applying for the loan and her score dropped significantly it can cause your loan to be denied.