Co-maker, Co-signer, or Guarantor
If you are a co-maker, co-signer, or guarantor, you are obligated to pay a loan. Some contracts only obligate a guarantor if the lender has exhausted all collection efforts against the primary borrower. However, under most contracts co-signers are liable and the lender can enforce collection against them anytime the loan is delinquent. Understand your obligation as a co-maker. Don’t co-sign or guarantee a loan unless you have the means and are willing to pay it.