Cosiger Loans – Understand the Risks
If somebody is requiring you to have a
cosigner on their credit card, it’s for a reason. It’s probably because they struggled with their credit at some point in the past. If you cosign on an account with
somebody else you’re just as responsible for that debt as that person you cosign
with, whether it’s a credit card, a student loan, rent, and house
payment, or whatever the case might be there, so if they’re not paying it, even
if you’re not aware that they’re not paying it, you’re as responsible and that’s going to hurt your credit just as badly.