I'm fine trying information on Co Sign, Like what are the Details of One, What part do they Play in it all.
Answer:
A cosigner's obligations are the same as those of the borrower. If the borrower(s) does not repay the loan, the cosigner accepts responsibility for repaying the debt.
a co-signer on a loan makes the payments in case of default ( you co-sign and you are the one responsible - no way out )
the co-signer is saying i Will make it good to the bank even when my friend stiffs ya for any reason l
Do not cosign anything for anyone under any circumstance. Ever. If they default on the loan, you are responsible for it. If they declare banruptcy, you get a ding on your credit.
Likewise, never ask anyone to cosign for you. Same reasons.
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