7 Reasons to Say "No" to Cosigning ...

If you say no to cosigning, the person who needs help may feel that you’re the meanest person on the #face of the earth.

That’s okay - they’re entitled to their opinion.

While I definitely understand how cosigning a loan can help someone with no credit history, I feel that the risks outweigh the benefits.

Can’t decide whether to put your name on the dotted line?

Here are seven reasons to say no to cosigning.

1. 100% Your Debt

Sign your name to another person’s loan application and you automatically inherit this debt.

Even if you never make a loan payment, this debt is forever attached to your name, plus it’ll appear on your credit report.

And if the primary signer stops paying, the lender will hound you for a payment.

Do you need another reason to say no to cosigning?

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