Is there a way to fix damage done by cosigning for another person?



I am not very knowledgeable about credit but know enough to know that I am now in a bad spot. Three years ago I cosigned for my very good freind to purchase a Harley. We financed through Harley and he has made several 30-59 day late payments which are reflected on both of our credit. I understand the legal responsibility of co signing and that I am equally liable. My question is that since I am the secondary name on the account Harley confirmed that when payment is due they notify the primary on the account. If payment is not received by the due date they make several attempts to contact the primary. After unsuccessfully attempting to contact the primary they then notify the secondary on the account (Me) that the payment is late. Every time that I have been notified by Harley they have received payment promptly. Is there anything that can be done to help my credit and the late payments against my score? I have multiple lines of credit that have long history of payment and not a single one has ever been late except this account that I cosigned for.






Hi DS14,


Welcome to the Community!


That is a great question! Although I am not completely sure how this would work, I think giving one of our financial advisors a call at: 1-800-771-9960 would be very helpful for you. They will surely have more information on this and advise on how to proceed. Best of luck to you!

Did you try disputing it on your credit report yet? I had an incident many years ago where it was kind of a similar situation. Not the cosigning part, but with a medical bill. Basically, by the time I found out that my insurance was refusing to pay, the bill was already overdue. I paid the bill and disputed the fact that it had been late on my credit report. They took it off.

Go over to your friends house with another friend/family member and pick up the bike.  Take it to your house, update the registration and enjoy it as you make the bike payments.  Your friend is not responsible enough to cover the payments so that means you have to monitor them like a hawk and cover them.


Enjoy your new/used Harley.  After you make payments for 2 years those lates will not carry as much weight as they do now.  

Unfortunately, unless the original creditor wishes to do you a favor and remove the derogatory remarks from your credit report there is nothing you can do. When you co-sign you are legally obligated until paid in full.

And don't listen to OriginalJerk, above. He is brain dead. Although the loan is also in your name, the bike is registered / titled to your friend. Picking up the bike just adds a felony to your worries.

Members -

Spirited debate is welcomed, however per our Moderation Guidelines I'll need to remove personal attacks. Please keep it positive and encouraging. Have a good holiday weekend, thanks! - Angela