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Is it possible to obtain a secured joint loan with my daughter?
My daught just turned 18 and I want to help her build her credit. I plan on getting a secured loan for myself to help build my credit but I was wondering if anyone knows if joint loans with children are possible? If so where might I obtain one and do we need to share the same address? If its not possible to do this I'm probably just going to go with her to obtain a loan in her name and handle the financial aspect of it.
3 Answers
- Texas MikeLv 79 years agoFavorite Answer
Sure. Student loans are a common thing. BOTH are responsible for the loan if her name is on it. So if something happens to you she is liable.
I had a low limit credit card that I put my Daughter on with me. We both had cards for the same account. She was in England going to school so used my address.. She was responsible. She was on it for 5 years .. her credit score is 770.
- Ryan MLv 79 years ago
Since she is an ADULT...there is no issue. However having a joint loan is about the dumbest thing ANYONE can ever do with their own finances.
- -Lv 79 years ago
She's 18, not a child, so yes, if she was a co-borrower/cosigner, you could get her on the loan.
