Last reviewed in June 2022 by the Clicklaw Editors

People often co-sign or guarantee a loan for a friend or relative without knowing what can happen. Before co-signing or guaranteeing a loan, you should understand what legal responsibilities are involved and the rights that you have.

Good starting points include:

• Co-signing or Guaranteeing a Loan, from People's Law School, describes the responsibilities of co-signing a loan.
• Consumer and Debt Law, from People's Law School, has information about co-signing loans in the chapter "Co-signing, Guarantees and Join Debts."

Need more help?

• You may want to seek advice from a lawyer about the potential for conflicts. Lawyer Referral Service, from Access Pro Bono, offers a free, brief initial consultation with a lawyer to determine your legal needs. If you would like further help from your lawyer, you can retain them at an agreeable rate of charge.

See our related common questions:

• See all common questions about consumer
• See all common questions about debt
• See all common questions about taxes & finances

tags

loans, buying a car, guaranteeing a loan, co-signing a loan