A co-signer is someone who agrees to share the responsibility of repaying a loan if the primary borrower defaults. Co-signers are often used when the primary borrower has a limited credit history or a low credit score.
5. What are the advantages and disadvantages of online lenders?
Online lenders offer competitive interest rates and streamlined application processes. However, it’s important to thoroughly research any online lender before applying for a loan and ensure they are reputable and trustworthy.
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