Co-signing a loan
Co-signing a loan means you’ll be limiting the amount you can end up borrowing because the co-signed loan is now considered part of your debt. Before you consign, be sure you can afford to repay the loan should the borrower default. If you are asked to pay and you cannot, you could be sued or your credit rating could be damaged. And ask the lender to agree, in writing, to notify you if the borrower misses a payment. Get copies of everything you sign.