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Should you co-sign a personal loan for a friend/family member? Why/why not?
My thoughts on loaning money to friends or family are outlined pretty extensively here, but cosigning on a loan is a different matter.  It is almost never a good idea to do this (I say "almost" only because I dislike absolutes).  Here are the reasons why: Now, all that said, if my sister or parents were dying of cancer and cosigning a loan was the only way to cure them, I might consider cosigning on a loan with them, if that was the only option.  But, I would bet that 99.9% of such cases are not so dire, and your would-be co-borrower will survive with out the co-signing.