Hi. If I cosign a loan for my friend, naturally I realize that I am resposnible for the principle and any accrued interst and fees should he default. However, suppose he is late with a payment several times. Could that show up as a ngative on my credit report? Thanks.

Rob

[B]Don't mean to sound sarcastic, but Duhhhhhhhhhhhhhhhhhhhhhhhhhhh! Co signing on a loan, is just like you are actually the one and only person and you are just as responsible, for any and everything that happens, repossessions, foreclosures, unlawful detainers. Anything you represent to a creditor that you will back up, if the other person, doesn't hold up to the obligation and defaults.....Sorry.

Yeah, and bankers like have legal depts that will put liens on other things that you yourself own to recover any damages. if your friend has good/stable source of income and he is trustworthy then proceed with caution keeping in mind you are also on the hook for length of amortization. Otherwise think twice. I have just seen too many horror stories on my end with co-signing. Good luck