The Truth About Co-Signing a Loan | Episode 24

Are you thinking about becoming a co-signer on a loan for someone? It’s not a rare thing to be asked to co-sign a loan for family members and even friends. However, most people do not understand the full meaning of becoming a co-signer or the responsibilities that come with it. No matter how well you think you know someone, mixing money and relationships can get complicated. Becoming a cosigner can actually turn into a big financial mistake if you do it without really thinking it through. We’ve heard horror stories from customers who’ve had their credit wrecked, have been stuck paying a loan for someone else, and even had their relationships ruined. All of that from cosigning a loan! On today’s episode, we reveal the truth about co-signing a loan and all the things you need to consider before making that commitment.