Co-signing – Friendship and Relationships

Friendship and Relationships

One of the reasons people consider helping a friend or relative is to be a nice person.  But ask yourself this.  How long is the friendship going to continue if you are always asking whether or not the person has made the loan payment. 

Even if you don’t ask, every time you talk or are together, you will be wondering whether or not he is up to date on his loan payments.  When a friend comes to you asking for your signature, why not take the time to pass along the following wisdom to him / her?

Let them know that a good rule for borrowing is this: never borrow to buy depreciating items.  Such things as new cars, furniture, clothes, appliances, boats and luxury items should not be purchased until cash is available.




Your thoughts on this subject?  Your comments appreciated!


Content © Rich Brott, 2011

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