Keep in mind that if you co-sign a loan, it will show up on your credit report. When you go to apply for your own loans down the line, your debt to income ratio may be so high that a lender might not want to give you the credit you need. Co-signers, take note of this guaranteed loans advice: If you are the co-signer on a loan that has been satisfactorily paid over an extended period, you can request that your name be taken off the loan and that the lender report it to the credit agencies. If you co-signed a mortgage, it gets more complicated in that the loan may need to be refinanced. However, it's worth the extra effort since it will remove thousands of dollars liability from your credit report—and your shoulders.