Hopefully our local financial experts can answer a question for me. I'll try to keep it short. My parents co-signed my current auto loan three years ago, and I haven't missed a payment. My sister also did this and has kept up her payments as well. My brother, on the other hand, has apparently fell far behind on a loan my parents co-signed with him, and now my parents are undergoing the expected legalities and credit woe.
My question is as follows: since my parents have had a hit against their credit, can this in any way impact my sister's or my credit in return since they are legally contracted on loans with each of us?
I've dug around on the web but haven't found an answer. Many thanks to anyone willing to help out.