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Cosigning reduces the amount of your monthly income that is available to make payments on new loans. Even though you’re not borrowing-and even if you never have to make a single payment on the loans you cosign for-it’s harder for you to qualify for the loans you need.

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Co-Signing a Lease? 5 Legal Considerations – Law and Daily Life – When you co-sign a lease, you are essentially signing the lease as if it were your own. This means that you are exposing yourself to full liability on the lease. You won’t be the back-up person, but the main person. Co-signing a lease for someone is definitely not a decision to make lightly, even though you won’t be a tenant.

When You Might Be Personally Liable for LLC or Corporate. – One of the main reasons people form a corporation or a limited liability company (LLC) is to limit their personal liability for company debts. However, there are many ways to become responsible for company debts. Read on to learn more about when you might be held personally liable for debts incurred.

Cosigning a Loan – Understanding the Reasons & Risks – A cosigner is a person who agrees to pay a borrower’s debt if he or she defaults on the loan. The person asked to cosign a loan usually has a good credit score and a lengthy credit history, which greatly improves the primary borrower’s odds of approval. cosigners play a valuable role in the lending world,

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Risks of Cosigning Someone's Home Mortgage Loan | Nolo – So, before you agree to cosign a mortgage loan, consider whether you plan to buy a house, car, or another item on credit within the period that the borrower is paying off the mortgage, which could be decades.