Cosigning looks innocent enough: a friend or family member just needs a signature to secure that loan. The lender smiles, the borrower sighs in relief, and the cosigner feels like a hero. It feels like nothing more than a formality, a backup plan that surely won’t be needed. The problem is that the signature isn’t symbolic—it’s binding. By stepping in as a cosigner, someone agrees to be 100% liable if things go sideways.
