Today’s question is: Co-signing with the Devil | Credit Card Horror Stories Vol. III – Credit Card Insider
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Cosigning is a dangerous move in the world of credit, as the hapless subject of our video found out to his misfortune. When you cosign for credit or a loan, you are taking on legal liability for that debt, which means that they’ll be coming after you if the primary account holder fails to pay. Their activity, good or bad, will show up on your credit reports, potentially bringing your credit score way down.
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