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    Bill McGough's Avatar
    Bill McGough Posts: 1, Reputation: 1
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    #1

    May 16, 2015, 11:45 AM
    I'm financing a motorcycle, my cosigner has a lien on her credit card
    Can she still cosign for me to get a bike with good credit but a lien on her credit card?
    tickle's Avatar
    tickle Posts: 23,796, Reputation: 2674
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    #2

    May 16, 2015, 01:16 PM
    She hasn't got good credit if she has a lien on her credit card, dah ! So, no, she cant cosign you.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
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    #3

    May 16, 2015, 04:00 PM
    Surely she has some clue by now how high interest rates are and how fast it accumulates... so why in the world does she want to add to her debt????
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #4

    May 16, 2015, 06:29 PM
    It will be up to the bank. Or company that is doing the loan for the motorcycle. They may, it all depends on her credit score. Also there is not a "lien" on a credit card, it can be over balance, past due, in collections, even have a judgement against her.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #5

    May 16, 2015, 07:47 PM
    A lien is a legal encumbrance placed on real property to satisfy a debt. So one cannot have a lien on a credit card. However, the credit card issuer could have a lien against some property she owns. Not all liens indicate bad credit. Lenders who make loans for real property like real estate or cars will place a lien against the real property.

    So its not clear what she has. It will be up to the lender to determine whether her credit is good enough to grant the loan.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #6

    May 18, 2015, 06:19 AM
    Quote Originally Posted by ScottGem View Post
    A lien is a legal encumbrance placed on real property to satisfy a debt. ...
    Or on personal property. It depends upon the type of lien.

    But yes, it will be a decision for the lender to make.
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