An ex-girlfriend and I took out a car together. After breaking up, she decided to trade in the car and get a new one. The dealership sent me a Power of Attorney form to fill out to have our car used as a down payment for her new one. There was still a balance of $21,000 on it during trade-in. She got the new car with someone co-signing with her. My question is, how long will the car loan be visible on my credit report as an owed amount? how long before that loan amount is removed from my credit report?
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1Companies generally send information to the credit bureaus monthly. Has a full month passed since the car was traded in? – Justin Cave Apr 7 at 15:26
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2Hopefully you learned that co-signing a car with someone you're not married to is a bad deal... especially for a $21,000+ car. – Nosjack Apr 7 at 15:54
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Is there still a debt that is owed on the old car, or has that loan been paid off? – Ben Miller - Remember Monica Apr 7 at 21:23
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