Stop. Drop. And Read This Before Becoming a Co-signer.

There are many reasons to consider cosigning a loan. Your children need your signature to take out student loans to pay for college. Maybe your parents need money and have asked you to cosign since they were nice enough to bring you into the world. You might have a lifelong friend who has fallen on hard times and could use your good credit to help her get back on her feet. A recent article article from CNN Money explains…

The pitfalls are many. The pain could last for years. But if you insist, some tips for good outcome.

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