If you cosign a loan,
A)you are not being asked to guarantee the debt.
B)it is not your legal responsibility to pay the debt.
C)you'll have to pay up to the full amount of the debt if the borrower does not pay.
D)the creditor must first try to collect from the borrower.
E)the creditor cannot garnish your wages.

Question

Quizplus · Accepted Answer

When you cosign a loan, you are agreeing to be legally responsible for the debt along with the borrower. This means that if the borrower does not pay back the loan, you will be fully responsible for repaying the loan in full.

If You Cosign a Loan