As a Certified Public Accountant and Certified Financial Planner, one consistent piece of advice I would give to my clients was never to cosign on a loan. When doing so, you agree to be responsible for the debt should the original borrower miss a payment or stop paying altogether. It’s awkward. And I’ve seen sincere people who wanted to help a friend or a relative find themselves in a financial bind because they were kind to someone who has now fallen into hard times, or turned out to be a deadbeat.