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My son is moving in to his own apartment

and needs me to co-sign for him as he does not have any credit
(young adult) the problem is his friend is going to be living with him. She has bad credit and he doesn't have any credit so..I my son asked me if I would co-sign for him. I wouldn't mind for just him, but when someone else is on the same lease aren't I co-signing for both? or how would that work?

 
Anonymous

Asked by Anonymous at 11:37 PM on Jun. 11, 2010 in Just for Fun

This question is closed.
Answers (3)
  • When you go to sign the papers just make it known that you are only willing to take responsibility for your son's half in case something later comes about. Because that is what co-signing is about making sure they get their money no matter what. Maybe the girl also has a parent that would be willing to sign for her part. If they require someone sign for her too and she can't find someone, then make your son look for a new room mate.
    BlainesMommy09

    Answer by BlainesMommy09 at 11:41 PM on Jun. 11, 2010

  • i'm not sure but i wouldnt do it. you could get stuck paying his rent.
    Anonymous

    Answer by Anonymous at 11:39 PM on Jun. 11, 2010

  • I agree with BlainesMommy09 - have a meeting with the apartment landlord/manager and your son so the three of you can talk about this and have it all out in the open. Before you co-sign the lease, be sure to have it looked over by a lawyer (some do it for free) to be sure that there isn't any tricky language in it where you WOULD end up paying for a potential negligent roommate.
    Try to help your son establish credit as soon as possible...paying his rent on time is a great step in the right direction. If he purchases a used car on a small loan and makes payments on time, then that is a great step, too.
    Best wishes to you and your son!
    PrydferthMenyw

    Answer by PrydferthMenyw at 8:35 AM on Jun. 12, 2010

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