You’re Liable Too
Cosigners on a loan are responsible for the loan should the borrower fail to pay for the loan. Therefore before signing your name to a loan for a friend or family member remember the lending company can and will come after you, your credit, and your possessions if the loan is not repaid. Have set in advance any payment options available to you should the borrower fail to pay. Also sit down with the borrower and lay down the expectation you have, to protect your own credit.
