He who puts up security and guarantees a debt for an outsider will surely suffer [for his foolishness],
But he who hates (declines) being a guarantor is secure [from its penalties]. Proverbs 11:15 Holy Bible Amplified Version
This is something you need to consider before you co-sign for anything.
I know many elderly folks who have co-signed loans for their childrens house and or a new car. The children refuse to pay the loan and the parents are stuck paying it for them, many times including having to sell their own homes ( I do not know how anybody can live with themselves doing that).
Before you co-sign anything do a thorough back ground check on them.
Now of course they can line up scam artists to lie for them.
But, be wise and go to the truest Character reference there is.
His name is Jehovah and with Him there is no secrets.
When He reveals the truth to you stand by His choice on whether to co-sign or not. It will prevent a lot of financial hardship and bad feelings in the family and with good time friends.
Yes family is the worst offenders.
If they are not reliable DO NOT CO-SIGN. If they get pouty just stand firm and inform them that their credit from past experiences is substandard. Come back when you have learnt to grow up ( and how can they grow up if you keep on bailing them out?).
If that means cutting ties with them, good riddance to bad rubbish.
I know from a lot of bad experiences myself and by life is better off without them in it.
I have met many who when you have money they are your best friends. When the money runs out I am a stranger to them. Joseph a son of Jehovah
Prayer: Please Jehovah-Ganan (The Lord is Our Defense) bless me with Your Divine defense of wisdom and strength to protect myself from the scheming wiles of free loaders which would bankrupt me if they could while giving nothing in return. I humbly request this in the name of He who always exposed evil leeches Jesus Christ. Amen.
May the gentle assurance of Jesus’ sweet love encompass you today and every day.