Part 3/7:
As one might anticipate, the risks do not stop at personal relationships. Co-signing a loan can have a detrimental impact on credit scores. If the primary borrower misses payments, the co-signer’s credit rating can suffer along with theirs. This financial entanglement means that co-signers often find themselves responsible not only for the debt itself but also for any legal repercussions, late fees, or collection costs that may ensue.