Co-signing – Trusting that the Loan Will Be Paid

You are hoping that your friend or relative will pay back the loan.  There’s a good chance that it will not happen.  When your friend or relative defaults, then you have the “privilege” of paying back the money. 

My advice is to never co-sign a note unless you can afford to give the money away!



Your thoughts on this subject?  Your comments appreciated!

Content © Rich Brott, 2011

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