What’s the simplest answer to whether you should co-sign a loan for a family member? “No.”
That’s what all too many co-signers wish they had said when they were asked to co-sign a loan, even for an adult child or a parent.
Co-signing a loan does not always turn out badly, however.
There are times when a co-signed loan is just the boost your family member needs. It can work well sometimes – if you can answer “yes” to all these questions: