Will my co-signer work ?

Question

im getting a personal loan and my sister will be co-signing for me but she does not live in the same state as me is this a problem or will she still be able to sign for me ?

Answer 1

Best Answer - Chosen by Asker

Mom05,

I’m not sure about personal loans but I have done it several times with an auto loan. The loan company will have you sign the documents first, then they will overnight them to your cosigner. To verify the cosigners ID and signature they will have to sign the documents in the presence of a notary.

After the cosigners ID and signature are verified by the notary the documents are sent back to the lender and funds are released.

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Asker's Comment:

thanks
:)

Answer 2

Y are you getting a personal loan? and what are the terms? your just adding more debt to your life. may i suggest you check out daveramsey.com before you get in more debt..

Source(s):

www.daveramsey.com

Answer 3

I don't know your personal situation but I would tell your sister to not co-sign a loan. If you miss or are late on a payment your sister is also responsible. If she has good credit you can ruin her credit by not paying the loan or being late on a payment. It's a good way to ruin relationships by co-signing a loan.