Home Loans & Credit Why co-signing a loan, especially a student loan, can be a costly move – Los Angeles Times

Why co-signing a loan, especially a student loan, can be a costly move – Los Angeles Times

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In the meantime, you’ll want to protect your credit, because a single missed payment can damage your credit scores. Contact the lender to find out what notice, if any, you’ll get if she falls behind on payments. Discuss with her the importance of making payments on time, every time, and ask her to contact you immediately if there’s any chance that won’t happen.

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