This is kind of a twisted circumstance. Usually, the co-signor is the one who has their credit affected by the original applicant defaulting on a debt. In this case, though - probably because it is a co-owner - it is the original applicant that is being adversely affected by the fate of the co-signor. That seems just wrong, on so many levels. But I suppose the idea of a co-signor is to have a secondary path for the credit issuer to recover its finances.
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