Legal Question in Banking Law in Pennsylvania

Anytime someone co-signs on an obligation, they become equally liable as the individual who actually received the funds from the loan and they remain liable until the loan is paid in full. If the person for whom you co-signed is not making payments on the loan he/she took out, then your credit will be affected also. The only thing you can do is to give the lending bank your correct contact information so that you will know if the person who took out the loan is paying pursuant to the terms of the loan since his nonpayment will negatively affect your credit rating.