There are many “fun” benefits that you may reap when you cosign a loan for a friend or family member and put yourself on the hook for their debt. There’s upwards of a 75% chance that you’ll get to pay the loan yourself. You’ll have the pleasure of dealing with bill collectors, liens, garnishments and bank attachments if you don’t …
In today’s episode, “Do NOT Cosign that Loan,” I’m going to tell why it’s NEVER a good idea to cosign a loan for a friend or family member, whether it’s a credit card, car loan, or a mortgage. Cosigning is hazardous to your financial and relational health. There are both money consequences and relationship consequences when someone defaults on a …