Cosign? Don't sign!

Someone you know comes to you and tells you that they need you to cosign a loan for them to get a car, apartment, house, loan, etc. Think first.
1. Why does this person need a cosigner? They need you because you have good credit and they have bad credit. You have good credit, because you pay your bills. They have bad credit, because they don't pay their bills.
2. If they don't pay other bills, why do you think they are going to pay this bill?
3. Have you completely reviewed this person's financial information to determine if they will be able to pay this loan? If someone is asking you to cosign, then they should open up their books to you. You need to know that they are able to pay this bill.
4. Are you married to this person? Are you a parent to this person? Any other relationship, DO NOT COSIGN. If you are just living with this person, then what happens when you break up? If you are married, then the court handling the divorce takes care of who has to pay this debt. If you are a parent, then you need to stop enabling your adult child and force them to stand on their own two feet.

Common sense says do not cosign for anyone. The best way to destroy your good credit is to connect it to someone with bad credit.