a question that could ruin your credit
Many times in life we are faced with a hard decision. Whether to co-sign or not to co-sign will be one of those hard decisions.
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You have worked hard to keep your credit score high, and you have no problem whatsoever in getting approved for a any loan or credit card that you apply for. Not everyone is so lucky.
What co - signing means to you, is that you are jointly responsible for the loan or credit card that you are co-signing for. If the person you co-sign for falls behind on the payments the creditor expects YOU to make the payment. If the payment is not made, not only will this be a black mark on your credit, but if the creditor decides to take legal action, they can file against you too.
If a creditor does this to you, they can sue you for the money owed, sell your assets, or even garnish your wages to get their money, and ruin your credit rating in the process.
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