496 –  Why You Should Never Co-Sign a Loan

496 – Why You Should Never Co-Sign a Loan

Author: Doug Hoyes March 2, 2024 Duration: 30:28

In this episode, Doug and Ted discuss the risks of co-signing on a loan. They discuss the differences between joint loans and co-signed loans and the impact they can have on your credit. They address common scenarios such as parental co-signing and provide advice on alternative ways to assist friends or children financially without assuming the burden of co-signing. This episode is a must-listen if you've ever considered co-signing a loan. 

Related Links:

How Is Cosigned Debt Treated in a Consumer Proposal? https://www.hoyes.com/blog/how-is-cosigned-debt-treated-in-a-consumer-proposal/

A Complete Guide To Joint Debts https://www.hoyes.com/blog/a-complete-guide-to-joint-debts/

Should Married Couples Get a Joint Consolidation Loan?

https://www.hoyes.com/blog/should-married-couples-get-a-joint-consolidation-loan/

Co-Signer vs Co-Borrower | What's the difference?

https://www.youtube.com/watch?v=ee4R7mKxp1w

Joint Debt and Co-Signing. Am I Responsible For My Spouse's Debt?

https://www.youtube.com/watch?v=M9gBlzJXnG0

Don't Lend to Family or Co-Sign – It Can Hurt Your Finances

https://www.youtube.com/watch?v=KGpQ4CX_IB4

What Is Joint Debt?

https://www.youtube.com/watch?v=jRGcHSWl_nw


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
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