MoneyWise


How to Un-Cosign

January 10, 2019

It’s difficult to say what the most regrettable financial decision might be. Investing with Bernie Madoff comes to mind. But there’s another candidate that deserves at least an honorable mention: cosigning a loan for someone else. On this MoneyWise, Rob West dissuades cosigning and has some suggestions for you if you’ve done so. 

Next, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:

  1. If your household income is $43,000, you're $35,000 in debt and your monthly necessities are more than you bring in each month, what should you do?
  2. If you've heard from investment advisors that there are major pitfalls to mutual funds, is this true?
  3. If you have a home equity line of credit, have $6,000 on it and have been making the minimum payments, but don’t seem to be making any progress, what should you do?
  4. If you've read in Scripture that we’re no longer under Old Testament laws, are we required to tithe 10% since we’re in the New Testament period?

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