My girlfriend of 4 years has just "Co Signed" on 2 car loans for her family who has just filed bankruptcy. One was to keep the family construction business running (Truck) & the other was so her 20 year old brother can keep his "I'm Cool" status in life (Nissan Z3) due to the relentless pressure from her " Insanely Controlling Parents " who now can not provide for their children financially & have burdened their 24 year old daughter with being the "CFO" of the family.
Yes, she still lives at home 
At my estimation the loans are at a combined total of about $60,000
She makes less than $10.00 an hour at her job
& has been an approved co-signer for 2 loans in less than 6 months time. It's obvious she has a decent credit rating. I guess what I don't understand is how lenders approve someone who makes less than $10.00 an hour as a co-signer for loans totaling $60,000 ?From what I've researched so far , I think that probably for the next 5 years her " Credit to Debt Ratio" is SCREWED & she will probably have a hard time getting credit or will pay a high interest rate on loans if she does get approved for any. Somoeone please correct me if I'm wrong?
The next thing that I'm concerned with is how it could effect me if she & I were to get married & what kind of impact this would have on our credit together?
I'm completely
furious about her being bullied & brainwashed into this whole thing & am ready to just rid myself of her, her family & what I consider to be bad financial decisions. So , with that in mind!
Any of you who might be able to bring some insight into this situation it would be much appreciated.