Co-signing a Loan, What would you do if a buddy or relative asks you to co-sign a loan?

Co-signing a Loan, What would you do if a buddy or relative asks you to co-sign a loan?

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Just before state yes, consider the obligations included and just how they might impact your personal funds and creditworthiness. Once you consent to co-sign that loan, you’re taking a lender won’t take.

  • The Co-signer’s Notice
  • Before You Co-sign

The Co-signer’s Notice

Once you co-sign a loan, the financial institution (referred to as “creditor”) must spell away your responsibilities in a co-signer’s notice, which claims: