Co Borrower: A poor credit score limits your options to borrow a loan, but if you have someone in your network with a good credit score, you can ask them to be your co-borrower to get the needed loan. Co-borrower in your loan application In a joint loan, both you and the person who is the co-borrower in your loan have to submit the necessary documentation. Borrowing with a co-borrower has these advantages: You get the desired loan without any trouble.Timely payments will improve your credit score. In case you're unable to pay EMIs, your co-borrower will take over the repayments of your loan.Who can be your co-borrower? Choose your co-borrower wisely, because if they don't pay the loan after you, it will affect both you and them. A co-borrower could be your parent, spouse, or children (if not minors). An ideal co-borrower has a good credit score, strong repayment capacity and a good relationship with the primary borrower. Documents required to apply for a loan with a co-borrower Whether you borrow from a bank or an NBFC, the documents required would be similar for both the borrower and the co-borrower. A few documents may differ depending on your lending institution. Some key documents required are:Aadhaar Card PAN Card Bank statement ITR report Salary slip Does the co-borrower's credit score get affected by the primary borrower's? Yes, if the primary borrower defaults on the loan or misses an EMI, it will negatively impact the co-borrower's record as well. So, if you're on the other side of this deal, be careful when you sign up to co-borrow a loan on someone's half. If they default on their loan, you will suffer the same consequences.(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)