If you co-sign, that debt is yours.

If your son or daughter wants you to co-sign for a car, apartment or loan, just say no, says Trent Graham, manager at GreenPath Debt Solutions. Debt counselors see this one a lot. Often, the other person defaults, leaving the co-signer to pick up the payments. Having to suddenly shell out an extra $350 per month can really squeeze a family budget. Courtesy of Bankrate.com

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Nathan Kennedy