Skip to main content
(678) 915-2634 Contact Us
Should you co-sign for a stranger? Atlanta, GA

Personal Attention & Experience Since 1971 Family-Owned, Family Focused

Client Reviews

Should you co-sign for a stranger?

lawyer in a lawyers library

The ongoing economic slowdown has caused many people in Atlanta and throughout the country to consider options and seek assistance in ways they never thought they would have to. One example of this is co-signers. If you don’t have the credit to qualify for a car, personal, business, home or student loan, and you don’t have a family member or friend who is willing or able to co-sign for you, what can you do?

Some people, in lieu of any other options, are using a creative solution for this issue: seeking strangers to co-sign their loans on Craigslist or other Internet boards. If you need a co-signer, should you try to find one on Craigslist? If you see an ad for a co-signer online, should you answer it? In most situations, experts say, the answer to both of these questions is no.

If you decide to seek a co-signer on Craigslist, consumer advocates say, you could be setting yourself up for even greater financial woes. Often, the people who answer co-signing ads are scammers who will take your personal and financial information and steal your identity.

And if you answer such a loan, the risk could be even greater. Not only will you face the same identity theft threat, but even legitimate borrowers could significantly harm your financial future. When you co-sign a loan for someone, you are expected to pay the loan back in full if the borrower defaults. Even if you and the borrow sign a contract stating that you are not responsible for the debt, the lender will still go after you if the borrower stops making payments, and it is then up to you to get the borrower to pay the debt.

Source: CNN Money, “Desperately seeking co-signers – on Craigslist,” Blake Ellis, Nov. 8, 2012

Posted on behalf of Jamie L. Gingold, PC

195 14th Street NE #1604
Atlanta, GA 30309

Phone: (678) 915-2634

Email:

First Free
Appointment




    DisclaimerPrivacy Policy

    I have read the Disclaimer and Privacy Policy

    Our Client Reviews

    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

    Write a review