UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev | Next
Author: dsemmler Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308360  
Subject: More Co-Signing Date: 8/31/2004 2:04 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 4
Given the recent discussions on co-signing for loans, I thought some people might find the following article to be interesting:

As you state in your question and as I have warned in other columns, you as the co-signer of a loan have to be prepared to make the payments if the loan defaults. In fact, I will share one of Bucci's maxims: "A co-signed loan is a defaulted loan. You just don't know it yet!" The corollary to this maxim is, "Any loan you make to a relative is really a gift. You just don't know it yet!!"

http://www.bankrate.com/dls/news/debt/20040820a1.asp

dt
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (8) | Ignore Thread Prev | Next

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Post of the Day:
Value Hounds

Medallion Financial: TAXI!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement