Q: I co-signed a loan for my cousin three years ago and never thought about it again since the payments were his responsibility. But I got a call from the lender the other day. The loan is a few months in arrears, and my cousin won’t return the lender’s calls. What are my options? —Darren
FP Answers: A call like that can be a real surprise, especially when you had put the loan out of your mind. But the lender is right to contact you. When you co-signed, you became equally responsible for the full debt, not just a portion...
English (US)