Ask the Dolans: Should I co-sign a loan for a family member?
Filed under: Borrowing
Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.
Click here to ask Ken and Daria your question.
Lending money is a touchy subject and in our current volatile economy, it's not uncommon for family and friends to turn to each other for a loan. We know how much you care for your loved ones, but this is a big step that could cause future problems and financial loss.
Before co-signing any loan, here's what you need to consider.
Dear Ken and Daria,
My grandson asked me to co-sign a loan, but I'm reluctant to do so because I recently retired. Should I sign?
-Mary
If you do decide to loan money to a family member, protect yourself with Ken and Daria's sample loan note.
Click here to ask Ken and Daria your question.
Lending money is a touchy subject and in our current volatile economy, it's not uncommon for family and friends to turn to each other for a loan. We know how much you care for your loved ones, but this is a big step that could cause future problems and financial loss.
Before co-signing any loan, here's what you need to consider.
Dear Ken and Daria,
My grandson asked me to co-sign a loan, but I'm reluctant to do so because I recently retired. Should I sign?
-Mary
If you do decide to loan money to a family member, protect yourself with Ken and Daria's sample loan note.
Reader Comments (Page 1 of 1)
4-11-2009 @ 3:12PM
Boris said...
We've listened to the Dolans on WOR for years. Now their show is canceled. What hapened? Where can we hear them now. It was such informative.
Reply
4-20-2009 @ 2:16PM
Pat said...
I have two small houses sold on personal contract and would like these people to get the benefit of their payment history against their credit score. Is this possible and how or where do I report this?
Reply