Heads up on co-signing loansPosted by Nick Niesen on November 8th, 2010 In my opinion, if you co-sign a loan with a family member or a friend, you?re looking for trouble. Granted, if you want to help your child buy his first car, you may need to co-sign because the child does not have credit history yet. The danger is that if your son makes a late payment, the bank will come to you to pay it off. Be extremely judicious who you co-sign for. Because of the risk that another person could damage my credit, I will never co-sign for a friend or family. It?s not homework, it?s an assignment 1.home mortgage(s) Get answers to these questions: Like it? Share it!More by this author |