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35% - Payment History 30% - Amounts Owed 15% - Length of Credit History 10% - New Credit 10% - Types of Credit
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When a Co-Signer Files for BankruptcyIf there was a co-signed loan then that means both parties are subject to bad marks on their credit report as both parties “guaranteed” repayment of the loan. Of course this is not legal advice and we recommend a person speak with an attorney about these matters, but it does affect both sides if one files for a bankruptcy and does not pay the loan.
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