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My co-signer filed bankruptcy & I’m still paying account. It shows on my credit report. does it affect score

My parents filed chapter 7 bankruptcy in 2005 and they had co-signed on a car loan for me. When I pull my credit report it states unrated bankrupty but shows the account payment never being late. I called a consumer agency on the internet and they said it Does negatively affect my score, just by having the word bankrupcty contained in my report. But I’ve read a similar answer on this page that states it has no affect at all. Which is true? I’ve tried disputes with the bureau’s and they never remove the “bankrupcty” part of it but show that it’s being paid as agreed.

First you should find out what your credit score is.Call the 3 credit bureaus and request a copy of your credit report and pay for your score. Anything over 700 is great!. 600+ good. 500+ fair and anything under that is not desirable. Once you have your score then you will know where you stand. The score that you purchase from the credit bureaus gives you an analized breakdown each and every factor that is affecting of benefiting your score. The fee for this is relatively inexpensive, anywhere from $5-$15. If the bankruptcy is affecting your score it will let you know. A credit score is formulated by soo many different facotrs rated on a percent form. For example: 15% of the score is your credit limit to debt ratio and 35% is your payment history ect. You might want to consider removing your parents now that you have a history with the finance company. You might also want to refinace so that you dont include your parents in the new loan. Hope this helps.

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