When you co-sign, you are agreeing to be the payer of second resort. If the borrower flakes on payments, the lender has every legal right to come to you for the money.
Even if you are 100 percent certain you could cover the payments, I want you to step back and ask why you are being asked to co-sign. Is it because the borrower has a sketchy credit score and financial history? Is it because the borrower is looking to borrow too much? Those are both signals that you need to say no out of love rather than yes out of fear.
I don’t care who the borrower is, you can’t afford to be an accomplice to someone else’s poor decisions.
Video: Think Twice Before Co-Signing a Loan