No. of Recommendations: 10
Fools,

I kid you not: http://money.cnn.com/2012/11/08/pf/craigslist-co-signer/inde...

NEW YORK (CNNMoney) -- In a new sign of desperation, people are turning to Craigslist to search for co-signers when they don't have good enough credit to qualify for loans on their own.

...


Made me cringe. Felt like I was watching a slow-motion train wreck...

What honest person would answer such an add? Co-sign a loan for a complete stranger?! You have got to be kidding!

OK, I suppose I might agree to it if my own credit were trashed, just for the cash. Of course if I were to that point, the lender would probably reject me as a co-signer.

Some people are either just crazy ... or foolish.

- Joel
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No. of Recommendations: 2
That guy at the bottom of the article? The one who can't afford tuition because he gambled it away? Would anybody really co-sign a loan for someone with a gambling problem? You'd deserve anything that happened to you.

What was that site that was so popular a while back, where you could lend money to total strangers through the internet? That would be a lot safer. At least you would only lose the money you lent someone. Your bank account and credit record would remain safe and secure.

Nancy
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No. of Recommendations: 0
I have refused to co-sign for in-laws, and have enough annoyance that our current telephone number previously belonged to a dead-beat.
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No. of Recommendations: 1
Prosper?

peace & loans
t
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No. of Recommendations: 2
Prosper?

That's it.

http://www.prosper.com/

They used to arrest loan sharks for rates like that. Now that the credit card companies charge the same rate anything goes. The part that some people don't understand is that if you lend money at a 30% rate, you are taking on considerable risk of not getting your money back. But if they understand the risk and are willing to take it on, it's their worry, not mine.

Nancy
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No. of Recommendations: 3
But if they understand the risk and are willing to take it on, it's their worry, not mine.

Until our government decides to help them cover their losses.

xtn
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