Co-signing a Loan

Co-signing a Loan

Where do you turn if a buddy or relative asks you to co-sign that loan? Before you state yes, consider the obligations involved and exactly how they might impact your very own funds and creditworthiness. Whenever you agree to co-sign a loan, you’re using a loan provider won’t take.

The Co-signer’s Notice

Once you co-sign a loan, the financial institution (referred to as “creditor”) must spell out your obligations in a co-signer’s notice, which states: