First of all, I never had the courage to share this because it's beyond pathetic and embarrassing. After three years have passed, I have decided to release this shameless story. Call me stupid, call me dumb... but OOPS! Don't put me on blast.
This was 3 years ago. I did not know shit about the loan process, ie. co-signing. I walked into a loan company for a car loan. The loan was actually not for me. I had a decent credit history, but it didn't meet the duration. One of the agents there told me that I needed to get a co-signor in order to qualify.
Agent: We will give you the loan if you get a co-signor.
Me: What's that? And how can I find one?
Agent: It can be anyone who has at least 3 years of good credit history.
So.... with that heard, I grabbed my phone and called up everyone (that I knew) who were over the age of 21-- assuming that they had higher chances of having at least three years of good credit history. I asked if they could co-sign for me...... I have never felt so rejected. Unlike now, I did not know at that time that your co-signor is a risk-taker. I thought that person was
merely someone who had to indicate to the agency that he/she knew and trusted you. I got all kinds of responses. Some were willing but didn't qualify, some were not willing and didn't qualify, and many thought I was insane. One response went like this: "WHAT??? You're kidding me right? Of course not. Normally, only husbands and wives would do that for each other."
After that response was when the embarrassment took over me. I called those people at the agent's presence. She probably laughed her ass off, just like what I am doing now. The next day, I spoke with an expert in the field regarding this loan process and he explained to me in detail what co-signing was and the risks associated with it. OOOOh... I see. My response was this:
"YOU DON'T WANNA KNOW WHAT I DID YESTERDAY!!!"
Dialing those numbers was a big mistake. Gladly, I was not the one being asked to co-sign for another person at that time, because I would have said "of course!"