cosigning Definition
agreeing to be responsible for a loan or debt along with the borrower, and assuming equal liability for the repayment of the loan if the borrower defaults.
Using cosigning: Examples
Take a moment to familiarize yourself with how "cosigning" can be used in various situations through the following examples!
Example
My parents cosigned my student loan.
Example
He asked his friend to cosign the lease agreement.
Example
The bank required a cosigner for the loan.
Example
Cosigning a loan can affect your credit score.
cosigning Synonyms and Antonyms
Synonyms for cosigning
Summary: cosigning in Brief
'Cosigning' [koh-sahyn-ing] is the act of agreeing to be responsible for a loan or debt along with the borrower, and assuming equal liability for the repayment of the loan if the borrower defaults. It is often required by lenders when the borrower has a poor credit history or insufficient income. Cosigning can have an impact on the cosigner's credit score and financial stability.
