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Best advice for turning down a relative with bad credit for a cosignature?
I've been asked a couple of times to cosign for auto loans, credit cards, and even to be on a lease by one or more relatives who are simply NOT responsible with credit and money in general. Between being able to afford rent and being able to afford pot, this relative will always choose pot. If they can't afford a bill, it simply goes unpaid, and they cast blame on the landlord, auto-lender, or whoever else is involved in trying to "take" their money.

Obviously I don't feel comfortable cosigning anything for this person. However, I'd prefer not to be rude about it because I don't think it's right to be judgmental about a person's financial health... and I am also terrified that if I make this person mad, I'll wake up to find my tires slashed or something equally horrible.

Is there any advice out there about how to politely decline cosigning for someone that doesn't involve offending them? My previous excuse was always that I wasn't in a position, financially, to be of any use to their needs... but now they know that my new job actually pays really well.

This relative has also "borrowed" several hundred dollars from me just in the last few months... it's blatantly obvious that I'll never see a penny of it again, but I'd honestly rather throw cash at this person than risk my credit score and financial well-being by cosigning on something I know she will have defaulted within a year.

How have you handled this type of situation? Did it work out? What might you have done differently?

Thanks in advance for your advice!

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