co-signed for a loan and now it is in default
December 29th, 2009 by Questions
My husband co-signed for a loan for a trailer that is now 2 months in default. I know that this is currently affecting his credit rating. My questions are; 1) Do we have a legal right to try and sell this thing before it destroys his credit? and 2) If not, and it gets repossessed or goes to collections how long and how badly will it affect his credit rating? He has always maintained great credit (785) and is seriously worried about this situation.
Posted from: Alberta