OK, lemme break it down

However long you've known this person and nomatter how close a relationship there may be, here's the absolutely ESSENTIAL question:

Can you realistically afford to see that money go bye-bye forever, and still be financilly on solid ground yourself?

Bc that's the bottom line, vanity: If said "nearly family" person should again have something "come up", then that will be your loan indebtedness forev and your personal credit-impact both long & short term

sigh

So, VERY importantly, Do Not Be Guilt-Tripped Into This Either, K?

Chyia, just sayin'

It's not whether or not you trust them to want to pay it off. Or to actually pay it.
But rather, are you sure they can definitely afford to for the entire term of the loan.
And are you prepared to sacrifice a friendship to money if they don't/can't pay?

The only person I have co-signed for is my daughter's student loan. and that's because she needs the education and i KNOW where to find her. Also, if she fucks it up, i can assume the $50 payments per month and she is my kid, so it's not like I'd stop loving her.

With a friend, never ever. Especially one whose track record (ie: credit) is bad. People who do not have good credit are that way for a reason, and if they are your friend, chances are, they will figure that you will "understand" if they cry hard enough when shit goes down.

In the alternative, if they just bail anyways, what happens? Oh yeah, you either assume the loan or go down yourself. If this friend is as flaky in life as they are with credit, run screaming away from the situation.

__________________
Michael Phelps for President - 2012!!!

i'm dittoing this because i'm not convinced it's a friend.

__________________
how many blondes does it take to jump off the golden gate bridge?
none because kevin did it.

do It Its Good For You!

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The man,
a florist,
said he ended up with the spray can inside him after insulting his partner's penis size.