Comments on: To Cosign Or Not To Cosign: That is the Question http://masteryourcard.com/blog/2008/06/30/to-cosign-or-not-to-cosign-that-is-the-question/ The best Credit Card Debt Blog online Wed, 17 Mar 2010 10:38:55 -0400 http://wordpress.org/?v=abc hourly 1 By: 5th Edition of the Finance Fiesta! | rocket finance http://masteryourcard.com/blog/2008/06/30/to-cosign-or-not-to-cosign-that-is-the-question/comment-page-1/#comment-3078 5th Edition of the Finance Fiesta! | rocket finance Thu, 03 Jul 2008 15:22:46 +0000 http://masteryourcard.com/blog/2008/06/30/to-cosign-or-not-to-cosign-that-is-the-question/#comment-3078 [...] Your Card ( the owner of the Finance Fiesta) article is entitled with a Shakespearean, “To Cosign or Not to Cosign“. He leaves the question open-ended, but if my opinion is worth anything: don’t do [...] [...] Your Card ( the owner of the Finance Fiesta) article is entitled with a Shakespearean, “To Cosign or Not to Cosign“. He leaves the question open-ended, but if my opinion is worth anything: don’t do [...]

]]> By: J Dawg http://masteryourcard.com/blog/2008/06/30/to-cosign-or-not-to-cosign-that-is-the-question/comment-page-1/#comment-3054 J Dawg Tue, 01 Jul 2008 23:25:59 +0000 http://masteryourcard.com/blog/2008/06/30/to-cosign-or-not-to-cosign-that-is-the-question/#comment-3054 I agree with P L you should never loan money and never cosign for someone else. The question you should be asking is " What is your goal in doing this?" and then ask yourself "How can I help this person?". The question of how to actually help someone is the hardest one to answer, if someone comes to you and asks for a small loan to get out of jam are you helping by giving them the loan? How will they prepare for this instance so they do not have to come to you again? Some times the best help is to let a person flounder and fail. That way they feel the heat and make the decision to never experience it again. J Dawg www.undertrader.com I agree with P L you should never loan money and never cosign for someone else. The question you should be asking is ” What is your goal in doing this?” and then ask yourself “How can I help this person?”.

The question of how to actually help someone is the hardest one to answer, if someone comes to you and asks for a small loan to get out of jam are you helping by giving them the loan? How will they prepare for this instance so they do not have to come to you again? Some times the best help is to let a person flounder and fail. That way they feel the heat and make the decision to never experience it again.

J Dawg
http://www.undertrader.com

]]> By: P L http://masteryourcard.com/blog/2008/06/30/to-cosign-or-not-to-cosign-that-is-the-question/comment-page-1/#comment-3049 P L Tue, 01 Jul 2008 11:04:54 +0000 http://masteryourcard.com/blog/2008/06/30/to-cosign-or-not-to-cosign-that-is-the-question/#comment-3049 You forgot 'why do they need a credit card'? You touched on it in 'why do you want one' but shy an actual need co-signing should be an automatic no. If they want to rebuild credit or something else sensible there are other ways that don't involve cosigners. You might want to help someone out but providing a safety net for what is obviously a risky venture for them, sans a really good reason (and I can't think of one), isn't helping. Sometimes the best thing for your friend/relative is for you to say no. Cosigning = bad thing You forgot ‘why do they need a credit card’? You touched on it in ‘why do you want one’ but shy an actual need co-signing should be an automatic no. If they want to rebuild credit or something else sensible there are other ways that don’t involve cosigners. You might want to help someone out but providing a safety net for what is obviously a risky venture for them, sans a really good reason (and I can’t think of one), isn’t helping. Sometimes the best thing for your friend/relative is for you to say no.

Cosigning = bad thing

]]> By: Ashley @ Wide Open Wallet http://masteryourcard.com/blog/2008/06/30/to-cosign-or-not-to-cosign-that-is-the-question/comment-page-1/#comment-3036 Ashley @ Wide Open Wallet Mon, 30 Jun 2008 13:59:22 +0000 http://masteryourcard.com/blog/2008/06/30/to-cosign-or-not-to-cosign-that-is-the-question/#comment-3036 I've cosigned for people and it's never gone well. If someone has bad credit there's a reason. I’ve cosigned for people and it’s never gone well. If someone has bad credit there’s a reason.

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