If You Cosign a Loan, All of the Following Are

question 103

Multiple Choice

If you cosign a loan, all of the following are true except,

• A)you are being asked to guarantee the debt.
• B)it is your legal responsibility to pay the debt.
• C)you'll have to pay only a portion of the debt if the borrower does not pay.
• D)the creditor must first try to collect from the borrower.
• E)the creditor can garnish your wages.