Article: Think Twice Before Co-signing For Anything!
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Think Twice Before Co-signing For Anything!
A few years ago a friend asked me to co-sign on an apartment lease for him. This friend didn?t have perfect credit and couldn?t get the apartment without a co-signer on the lease. He assured me that he was cleaning up his credit; in fact, the manager of the apartment told him he could resubmit his application and probably wouldn?t need a co-signer after the first six months of the lease.
He pleaded with me to help him this one time and promised me that nothing could go wrong. So, believing in my friend and that six months down the road I could have my name taken off the lease agreement, I took a chance and co-signed the contract for my friend.
Three months later my friend lost his job, couldn?t afford his rent payments, and wound up moving back in with his...
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