The Odds Are Against You
 
Statistics show that the cosigner winds up paying for nearly three out of four cosigned loans that end up in default.  The lender can go directly to the cosigner, bypassing the original applicant immediately.  Furthermore, all the typical methods available to the lender for debt collection can be directed […]

 
Loan Default Consequence
 
What happens if the person with whom you cosigned a note refuses to pay or misses a payment.  In most states in this country, should a friend, relative or acquaintance miss just one payment, the lender can immediately go to you the cosigner and immediately collect from you WITHOUT FIRST […]

A Vacuum of Information
 
You may not be notified should the borrower miss a payment.  Time after time the loan payment may be missed and as a cosigner, you may never know.  That is until the loan is in default and the collateral has been repossessed. 
 
By that time, it may be too late […]

You Risk Ruining Your Credit Rating
 
When you cosign a loan, your credit is affected immediately.  Does this shock you?  You see it doesn’t matter that the loan may eventually be paid in full by the initial borrower.  Your credit will be affected the minute you sign the paperwork. 
 
How does that happen, you […]

 
You Become the Borrower
 
When you cosign a loan, know that you are now being asked to guarantee the full amount of the debt.  The lender has refused to make the loan to the person for whom you are cosigning.  The lender’s decision has been based on facts that reveal the risk is too […]