Co-signing a debt

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Any one foolish enough to promise to be responsible for a stranger’s debts deserve to have their own property held to guarantee payment

Helping a person financially is better off done via a gift or a loan.  By being co-responsible for their poor financial choices or misfortune, the liability one could face could be far more than what a loan or gift would have ever been.

“Capital must protect itself in every way…Debts must be collected and loans and mortgages foreclosed as soon as possible. When through a process of law the common people have lost their homes, they will be more tractable and more easily governed by the strong arm of the law applied by the central power of leading financiers. People without homes will not quarrel with their leaders. This is well known among our principal men now engaged in forming an imperialism of capitalism to govern the world. By dividing the people we can get them to expend their energies in fighting over questions of no importance to us except as teachers of the common herd.” — Taken from the Civil Servants’ Year Book, “The Organizer” January 1934

 

 

 

3 Reasons You Should NOT Co-sign

Oh No! What Have I Done?

 

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