What To Expect If You Cosign » Audio Archive » Faith & Finance

What To Expect If You Cosign

Faith & Finance

Christian talk radio with Rob West

July 19, 2023

Cosigning a loan can be a risky endeavor, with studies showing that 40% of cosigners end up having to pay the loan themselves. Not only can this be financially damaging, but it can also damage relationships with the primary signer. The Bible warns against cosigning, and the best way to avoid it is to not do it in the first place. If you have already cosigned, there are ways to try and get out of it, such as refinancing, offering an incentive to the primary signer, taking possession of the loaned item, or helping the primary signer become more financially responsible. Rob also answers listener questions about credit cards, 401k loans, Social Security, coin collecting, real estate, and more.

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