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Jul 28
Don’t Co-Sign a Loan for Another Person
I was just watching the Suze Orman show and she made it very clear not to co-sign a loan for another person. She has said this often and it is an important point that I thought I would share here. If you co-sign a loan for someone you are vouching for them and taking the responsibility. The person would not have gotten a loan otherwise if it wasn’t for you. If they default on the loan they have no responsibility and it will hurt you and your credit. So don’t get yourself stuck in this mess and learn to say no.
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Tags: Business, loans, personal finance
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