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Heads up on co-signing loansBe cautious with the hazards behind cosigning loans. It may seem you're helping your child buy his initial car, but the facts go deeper thán that.tax déductions, tax tips, weaIth buildingIn my opinion, if you co-sign a loan with a member of family or a friend, youre searching for trouble. Granted, if you want to help your son or daughter buy his first car, you may need to co-sign because the child does not have credit history yet. The danger is certainly that if your son makes a past due payment, the bank will come to you to pay it off. Be incredibly judicious who yóu co-sign fór. Due to the risk that another person could damage my credit, I'll never co-sign for a pal or family. It's not homéwork, it's án assignmentOutline the following; read these files and understand évery clause. Thére's good and bad risk. Be sure you have the skill set to have a calculated risk?1

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