Risking your credit for someone else.

The answer to this one is easy..a big NO!!!theres no way that i weould do it ..im not being mean or selfish or cranky but if someone hasnt bothered to keep their own house in order then what I say is dont come knocking on my door!!I wouldnt want to have to remind asnyone to pay me a payment that they owed to someone else..its just not on..and I dont think that I would sugar coat it..I would just tell them straight..a big resounding NO...

My mom used to have awesome credit but now her credit is ruined and she is so far in dept it isn't even funny. She has come close to losing her home from helping others. She co signed on my house. I do pay the payment and would never purposely hurt her credit. She co signed on my brothers vehicle, his broken jaw getting fixed, a house to help out her in laws, a friend who turned out to be a total users she helped get a business started, her sister she sold her a house on payments and guess what my brother lost the truck and my mom could not pay the payments so she owed for it, my brother did not pay the payment on the jaw loan and they took it out of her account and caused her over the limit fees, the users borrowed more money and took everything for the business that they helped start, her sister decided to move out of the house she was buying so mom was out several thousand on the house which helped her stay afloat for all the other junk people didn't pay for. Myself and her in laws are the only ones that have not used her and ruined her credit. My suggestion is turn them down and don't sugar coat it. usually you can listen to your gut and know if they are the type that would really pay you back or not. If you have doubts don't do it at all. I really don't recommend it at all but it is up to you.

I do not even have to think about this I would say Yes I have done it for my Son in the past I can't anymore now as they do not like giving Credit to People on Benefits I would love to get a Lap top and it was only £400 but they refused me on the Score that I am on Disability But yes I would do it as long as I know I can trust the Person to pay

A big definite no there on that gemini_rose. There would be too much responsibility there..like what if they don't keep up the monthly payment then you would be stuck paying for it, or if you couldn't pay it, then it would be YOUR credit that would look lousy, not theirs --I assume this is you you're talking about, right?

gemini rose as I am on a limited budget much I as I might want to help out a relative or close friend I would have to say no. In fact I now have only a debit card which would not work. what I would say is that I could loan them whatever I could afford and that they would have to make up the difference themselves.And they would have to pay me back in a reasonable length of time too.

itd depend on the person and the item in question. frankly.. those id trust to do something like this for.. wouldnt be putting me on the spot for it.. so that alone would answer the question. ive busted my hump to repair the damage to my credit caused by my ratbastardly ex husband, and trust me.. if youve never had to repair yer credit, it is a very long tedious journey of a methodical nature, and isnt one youd throw away casually once youve attained it. IF i were to do this for someone.. id keep possession of the item in question until it was paid off.. and only AFTER it was paid for would i hand it over. but more than likely, id just buntly say no, without any sugar on top.

Depends only of the sum, for who is it ( mom, brother, sister ) how URGENT it is and if I really know they can afford it. For example I gaved my sister 100$ a loan until 15h a day, and 10 days later he keeps avoiding the subject [ my salary is around 250$ ) so, I wouldn't do it for my sister if it was a big sum, only if MAYBE it was 2-3 months long and I'm sure she has the money! If not, I would definitly not! ahm and it must be really important... :/

I would say no right away. This did happen to us, as my oldest daughter wanted money. She was thrown out of college for poor grades, but wanted us to pay all of her bills. She isn't speaking to us and we figure when she grows up, then she will realize we were right. Good luck and sure hope its not a family member. Money causes hurt feelings and relatives take sides even when they don't have all the facts. We paid her bills a lot longer than several of my friends felt that we should have done. She completely blames me, as my husband wasn't the one that said no to her.

If this person has been turned down for a loan or credit you can be sure there is a good reason. Personally, I would explain that even though they wanted something they were in no position to get it. In this circumstance you must be prepared that if you go ahead and do this you will in fact be buying this person a gift of a new computer. I loaned my daughter money on several occasions and was never paid back in full. Her sister doid the same. Her sister even gave her several things to help her out...a fridge, a microwave and a gaming console. The microwave and the game console ended up in hock. Her sister bailed her out and got the goods back and they ended up in hock again a short time later. The best way to help people is not to help them.

If I trust the person, I will allow him/her.I tried this once to a friend,she needs cash and that time, I had my credit card so I allow her to withdraw and she will pay it after 2 months together with the interest. After one month, I heard that she is living to US, so I was disturbing her a lot to fully pay it because it might be hard for her to do it once she is away,Finally before she left, she cleared it off. That experience made me swear not to do it again, since it's hard to follow up people and remind them all the time although we were close...If that will happen to me again, I will be honest enough to tell her/him to look for another source since I can't risk my credit card but if member of my family, I may help in another way!

NO! Absolutely not! The reason is because I cosigned for my brother to get a car and he defaulted on the payments which I had to basically pull teeth to get him to pay up. Finally the loan was paid off. Then I loaned a friend my credit card to get something she needed and I didn't get that money back for several years which I paid interest on. I was burned twice and believe me, never ever again! So no I wouldn't sugar coat it but tell them quite frankly no and this is the reason why...

hey, it really depends on the person who is asking for it. if it is for my family i would not even bother thinking so much about it. through if it is for a friend i would see which friend it is for and then think whthere i should or not.

I got caught like that too and once bitten twice shy as the sayin goes.Well I was as mad a sa hatter as a so called pal asked me to act as a guarantor when she bought a scooter,and seeing as she was a good mate me like a fool I did it,Well I never gave it another thought until that letter dropped through my letterbox and she had not been paying her payments ,well I was so mad I could have thumped her,but I asked her what was going on and in the end it took an argument and a broken friendship to get her to make tose payments she owed,so I wouldnt recommend anyone to do this.

I would tell them no. I would not sugar coat it. Just a flat out no. If they are really your friend they will understand. Its not worth the rist. You could end up paying for something you do not even have. Its a definite NOOOOOOOO.

i ever had experience to lend my credit to my friend but i got trapped cause due to some reason she was not able to give the money on time in the date that we ever agreed before per month and the result, i became frustating cause i should pay the credit that she should pay. in my opinion, it will be better if you want to lend money to your relatives from your own money not from your credit balance cause the situation that i ever faced in here could be happened with you

I guess I would have to tell them that whilst I loved them I couldn't take the chance that something would go wrong and I would be left in the situation that I would have to pay for something I couldn't afford! Good Luck xxx

NO NO NO and NO I would not risk my credit rating for anyone and if you decide you want to go get a loan for something they will figure that payment into your debt and if they don't make the payment their goes your credit rating. There are programs for people with bad credit.

I think that I would help them if I could, but I think that the manner in which I would do it would be to get the item in my name and let them pay me for it. If it was a situation which I would need to turn them down, I would simply tell them that I am unable to help at this time.

I'd say no. I'd also be mean enough to tell them to save their money and buy things when they can afford them. If they get upset about it, tell them why. It's not worth ruining your credit to preserve someone's feelings, unless you can afford to take over payments when they break the deal.

In your example, where a family member or friend wants to buy a computer, I wouldn't lend them the money or co-sign on a store credit card. I would tell them they should save up the money until they can pay for the computer outright. This idea of not paying for 2 years or pay in monthly installments is dangerous for people who already have bad credit. If they are a good friend or family member, they will understand. In fact, you could always offer them the use of your computer until they can afford their own. Money is such a touchy subject and it's better not to get involved in situations like lending or co-signing. Imagine if you lent money to someone and they're supposed to be paying you back, but you see them continue to spend money on other items. I would get so annoyed but would feel bad and would have a hard time demanding they pay me back first before they buy other things. So all-in-all, it's a big N.O. to your question.