A
AlaAnnie
Guest
By co-signing the loan, you are not being charitable. You are being an ENABLER. You would be giving a drunk a drink. Not a good thing.
Another thing to think about, if the large, full-of-money institution called the bank is not willing to take the risk of lending him money, are you in a BETTER financial position to take this risk? I somehow doubt it. If you were, you could just gift him the money.
And, if he defaults on the loan, the lender won’t come to you for it until the loan is in trouble, as in your credit rating has already taken a hit.
Take your wife to a night out for being a bright girl.
Another thing to think about, if the large, full-of-money institution called the bank is not willing to take the risk of lending him money, are you in a BETTER financial position to take this risk? I somehow doubt it. If you were, you could just gift him the money.
And, if he defaults on the loan, the lender won’t come to you for it until the loan is in trouble, as in your credit rating has already taken a hit.
Take your wife to a night out for being a bright girl.