Cosigning feels like a small favor at first—just a signature, just a way to help someone get approved. The problem is that the “little favor” turns into a legally binding responsibility that doesn’t vanish if the borrower defaults.
Many people who cosign don’t realize they’re effectively guaranteeing the entire loan. That surprise has left more than a few well-meaning friends and relatives sitting in bankruptcy court. The road from good intentions to financial disaster can be shockingly short.
