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.
- How do credit unions differ from banks?
- What type of loans do you offer?
- How do I get pre-approved for a loan?
- What is a signature loan?
- By what methods can I pay on my loan at [Name of Credit Union]?