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Old Mar 30, 2003 | 03:46 PM
  #3  
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honda_pilot
DeeCeeFo'
 
Joined: Jul 2002
Posts: 5,755
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From: Scranton PA
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Well after frustrating over continuous research of credit and the way its works in search of info on how to build my own credit, I have a good amount of "crediTbility". hehehe

Co-signing on your friends lease application will legally bind you to be mutually financially engaged in the lease contract with the leasing co. Meaning, you are legally responsible for making the payments as she is. This does NOT mean you have to pay half every month or something, but it does mean that were she NOT to pay and default on the lease, both yours and her credit will be negatively affected. Also, were you to apply for some sort of credit wether it be revolving (credit card), or a loan of some sort, creditors WILL see this lease on your credit report.

When creditors look at your history, one thing that determines if you get approved or not and the interest rate you are eligible for is the amount of credit burden you are currently carrying. Co-signing on this lease will only add to your list of credit.

Not worth it bro, maybe you want to help her out but what if she loses her job? Be ready to have to pay for her or suffer major credit problems.

I say no.