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I need a cosigner

June 28th, 2010 at 07:13 pm

Cosigning would rank up there in my top 5 of stupid things to do. First off why do you think banks ask for a co-signer? Its because they know your not going to pay and that you pose too much of a credit risk. So if you are asked by a friend or family member to cosign a on a loan, you better be ready to pay for it.

If you need a cosigner for a loan then you do not really need a loan anyway. But if you follow what I write you shouldn't be borrowing money in the first place.

I have a friend who cosigned on a student loan for his girlfriend and to make a long story short. They are now broke up and guess what?? She isn't paying on the student loan so he is now stuck paying for someone else's education and no longer seeing the girl. Doesn't sound like a good deal to me.

I'm will but it as simple as possible. Cosigning is stupid. If you cosign you are stupid. Unless you like to pay other peoples bills, Don't cosign.

Get it? Got it? Good

1 Responses to “I need a cosigner”

  1. whitestripe Says:

    I dont think cosigning a loan is always bad. Sure, there are times when it's stupid, but other times it isn't. It depends on the item in question, the person buying it and their personal circumstances, not everything is as cut and dried as you make it out to be.

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