Think Twice Before Co-Signing For A Loan!

Unless you are willing to potentially make the payments yourself, the next time a friend or family member asks you to vouch for them on a loan, politely run the other way! When a bank requires a co-signer or guarantor, it’s because the person applying for the loan does not show a secure enough income to support the loan themselves, or their history of paying debts on time is questionable. When you co-sign for a loan, you will become ENTIRELY responsible for making the payments and your credit will be at risk, if your friend in trouble and defaults!

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