Is it a good idea to cosign a loan?

Cosigners lend their names and good credit histories to the maker. Should the maker die, lose a job, or otherwise fail to make payments, all responsibility for meeting the terms of the loan transfers to the cosigner. An often-overlooked aspect of cosigning a loan is the fact that the loan appears on both the maker's and cosigner's credit reports.

Read more about your obligations when you cosign a loan. The last sentence should be a link to the "Loan & Credit Management > Borrowing and Repaying Loans" section of your Financial Resource Center if you purchased this product from CU Solutions Group.

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