You May Want To Think Twice Before Cosigning a Loan
When it comes to loaning money, it is important to consider all of the implications before signing on the dotted line. Many individuals choose to cosign a loan rather than risk taking out the loan themselves. However, you may want to think twice before you cosign a loan.
Cosigning a loan means that you are agreeing to be legally responsible for debt that is not yours. If someone fails to meet their obligations and make payments on time, then your credit score could take a hit, as well as your personal financial standing. You may also have difficulty obtaining loans or other forms of credit if your name appears on someone else’s debt document.
In addition, the risks associated with cosigning can go beyond just financial losses or damage to your credit score.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start so FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706