Re: [WTW] Co-Applicant / Co-Signer

[Dave Dougherty]

ï Lex:   We check the co-applicant's credit, and it is a factor in our LC's decision.  If the co-applicant is the spouse of the applicant, or common-law "spouse", a poor credit report on the co-applicant can easily be grounds for our LC to deny.     We also include the co-applicant in the applicant's budget if they are in the same household.    We have the co-applicant sign the loan agreement, but they need not be listed on the car title unless the applicant desires/allows it.   As to your last question, I'm sure you understand that sufficient disposable income doesn't mean much to repayment success, if the person can't manage/budget their money properly, and shows it by having a poor credit history.   One other item of importance, if married or living together/common law, we always try to have them agree to apply as co-applicants.   Best Regards,   Dave Dougherty Ways to Work   Family Services Center 600 St. Clair Ave.  Building 3 Huntsville, AL 35801 (256) 551-1610 Fax 551-0722   For more information on Family Services Center, please visit www.fsc-hsv.org     ----- Original Message ----- From: Lex Levy To: [EMAIL PROTECTED] Sent: Thursday, July 01, 2004 7:36 AM Subject: [WTW] Co-Applicant / Co-Signer Hello All-   I have my first Co-Applicant loan going through and am wondering how this is handled.  Do any of you have experience with this and if so, can you tell me the procedure your site follows.  Do you require the Co-Applicant to complete a Loan Budget Form?  Are they listed on the Car Title?   What if the Co-Applicant shows a pattern of poor credit?  What if the Co-Applicant makes sufficient income to cover the loan with poor credit? etc. etc.   Thanks for your help. Lex Levy, Ways to Work Family Services of Montgomery County Pottstown, PA