There is no aspect of personal finances which poses greater risk to relationships than money matters among family and close friends. Family members who are in need often approach relatives who are better off asking for a loan. A brother who can’t get a car loan may ask you to be a cosigner so that he can upgrade his ride. Your sister and her husband have been told that they can get a much better interest rate on their home equity loan if they can find a credit worthy cosigner so they ask you to help them out. Family members are sometimes asked to take out loans for a relative who is in school. Another more unusual way to make oneself liable for the debts of another is to put up their criminal bail. If they don’t show up in court you will lose your money. If you express reluctance in any of these situations your family member may assure you that there is no risk because they will make the payments. If you still refuse, they may become belligerent, calling you greedy and selfish because you won’t help them out. They may even try to enlist other close
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