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gary12

How to get rid of bad credit occured due to having consignee for someone.

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One of my friend bought some stuff from best buy in the year 2011 and he was not getting loan for that purchase because he was new to USA. That time I helped him by being consignee for him. But he wasn't very sincere in paying his monthly installment, specially in the year 2013, and that is now badly affecting my credit history. In Nov 2013 he paid off all his loan to best buy but the bad credit is still sitting in my credit history. I have been very sincere in paying all my bills like apartment rent, credit card payments or car loan etc. but just this bad history exist. Can anyone suggest how can I remove this from my credit history?

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One of my friend bought some stuff from best buy in the year 2011 and he was not getting loan for that purchase because he was new to USA. That time I helped him by being consignee for him. But he wasn't very sincere in paying his monthly installment, specially in the year 2013, and that is now badly affecting my credit history. In Nov 2013 he paid off all his loan to best buy but the bad credit is still sitting in my credit history. I have been very sincere in paying all my bills like apartment rent, credit card payments or car loan etc. but just this bad history exist. Can anyone suggest how can I remove this from my credit history?

 

Unfortunately you can't.  If they are reporting accurately it will stay there for the reporting period as you legally are a co-debtor on the account.  Sadly you are finding out the hard way why you do not ever co-sign for someone. 

 

You could try a goodwill letter to the creditor but some have a hard line policy against deleting accurate trade lines.

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