Cosigning once felt like a simple gesture of support, but it’s turning into a lightning rod for lawsuits. Parents, friends, and even business partners are finding themselves dragged into court over debts they never expected to shoulder. Lenders love cosigners because they provide an extra safety net when borrowers falter.
The trouble starts when those borrowers stop paying, leaving cosigners scrambling. What looked like a favor often morphs into a full-blown financial nightmare.
