Asked to co-sign a loan for someone? Bad idea!

Many people are asked to co-sign a loan for a friend or family member. Most of the time feelings get in the way of good sense – it feels like you are trapped. But saying no involves short-term feelings. Saying yes and then discovering many of the problems in the article below (and link below) are long-term feelings that don’t go away. Keep your friendship and family intact by saying no! Offer to help some other way.

Original blog on topic.

 

PS. Even for student loans, co-signing isn’t a good idea unless you understand YOU are committed for the life of the loan as well !

 

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