Legal Question in Credit and Debt Law in Texas

How risky is co-signing?

My brother in law wants my husband to co sign for a $8000.00 school loan in Austin. He won't have to pay till 2014. We plan on trying to pay the remainder balance on our home and sell it in 2011 but, if we can't pay it off, we just want to sell it. Bottom line....is it a good idea to open credit for someone else when we are trying to get a bank loan with fair/good credit?


Asked on 12/18/08, 2:56 pm

1 Answer from Attorneys
James Grissom Law Office of James P. Grissom

Re: How risky is co-signing?

Co-sign for somebody else's debt if you are prepared to pay - because you most likely will have to. Good Luck.

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Answered on 12/18/08, 3:08 pm


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