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azanerd · Mar 23, 2008, 04:22 PM

I asked a family member to co-sign for me to get a loan from the bank, at first they said they might do it for me, but the second time I asked, they told me that they don't let people co-sign any more. Is this true or was this person just avoiding signing for me?

Lil_angel6600 · Mar 23, 2008, 04:34 PM

I have never heard of anyone not allowing you to have a cosigner. I have had a cosigner and had no issues with it. It could be because it's a bank loan but I am not real sure about that.

Fr_Chuck · Mar 23, 2008, 04:38 PM

Sounds like they don't want to do it, only the lender you want to use will know if they will allow it or not, every lender I know still does.

But again I don't blame them, since if you don't pay, they will have to.
And that is why the lender wants a co-signer.

azanerd · Mar 23, 2008, 05:31 PM

I do blame them, because it's my parent and they know I need the money for a medical procedure and they also know I have the income and nearly a thousand dollars of emergency money saved up to pay the loan off.

Skitteroo · Mar 24, 2008, 06:33 AM

I live in Canada but a few years ago I tried to "co-sign" for my son for an auto accident payout and our bank did say, they do not do co-sign loans. It was about a $3000 amount. I'm not sure why, but maybe for larger amounts.. I ended up getting a line of credit (in my name).