Co-Sign a loan: the advantages and disadvantages

Co-signatures are common practice in the area of loans. In fact, it is a way for someone with a good credit history to help someone in financial difficulty. This practice is more common among family members or friends because it requires a good relationship and a lot of mutual trusts.

Opinions about the benefits of a co-signature are shared. The reason is simple: people do not know what a co-signature implies. As with any financial decision, knowing the benefits and risks is the best way to make an informed decision. These are the good and bad sides of co-signing:

What does it mean to “co-sign”?

What does it mean to "co-sign" loa?


Briefly, co-signing is tantamount to helping another person who can not get a loan to get one. You put your name and credit history in someone else’s loan, making you responsible for their loan as if it were yours. Sometimes, because of a bad financial history, some people can not get a loan. Thus, a viable client uses his “good” credit history to help a family member or friend get the necessary loan.



  1. You help a friend or family member get a loan

There are many reasons to apply for an Echos Du-limousin loan: tuition fees, domestic expenses, etc. For some people who can not have a loan, the options are very limited. Being denied the credit application is common for people with a difficult financial history. On the other hand, a co-signer could help them change the situation. For example, a co-signature could allow a person to go to university, buy a safe car or move to a better place.

  1. Improves the credit history of both signatories

In order to improve your credit history, you must obtain a credit. This, on the other hand, can be difficult for people with a difficult financial history. As a result, a co-signer with a good financial history can help another person obtain credit or improve their credit history.

Moreover, as the co-signer has the same status as the signatory, he will also benefit from this loan by seeing his credit score improve if payments are made on time.

  1. Better interest rates

People with a bad credit history have to pay higher interest rates because they are risky claimants in the eyes of creditors. However, if these people manage to convince a co-signer, they can benefit from the credit history of the latter and get a better interest rate.

  1. Avoid profiteering creditors

By having a co-signer, you could avoid some creditors who only want to take advantage of your bad financial situation. These types of creditors choose vulnerable people to take advantage of them without, for example, explaining the dangers of another loan or notifying them of high-interest rates. A co-signer will allow you to do business with an honest creditor and have better interest rates.

The disadvantages

  1. You will not get a material reward

This is perhaps the main reason why volunteering as a co-signer can be a bad idea. You will not receive any material benefits. You could not drive the purchased car with the credit, but you will be responsible for the payments. If the person you co-sign cannot pay his debt, it will be up to you to take the torch and pay from your pocket.

  1. You are responsible for the loan

If you co-sign a loan for someone, it means that you are the main reason why this person gets a loan. Your good credit score and your credit history have allowed your friends or family member with bad credit and a difficult credit history to get a loan.

If the person stops making payments, you will be legally responsible for paying the debt.

  1. You may be refused for a future loan

By co-signing a loan today, you could jeopardize your chances of getting a loan in the future. Think of your future well before co-signing a loan. You think you will not need it soon but think about it. You do not want to see your application rejected once the need arises.

  1. You will have to make payments

Prepare to make payments no matter the situation. Since you have taken on the responsibility of being a co-signer, you must protect yourself and your credit history. Set aside a certain amount in the event of a default by the principal applicant. Be ready for the worst.

  1. You will have to watch the payments

Even if your friend or family member promises to make the payments, you still have to watch them. Simply trusting the person and not monitoring the repayment process is not an option. Treat this credit as another monthly bill, be organized and handle the situation.

Wanting to help a family member or friend is never a bad idea, but think about the potential consequences. Depending on the situation, the benefits may outweigh the disadvantages, but it can also be the opposite. The best solution is for both people to understand what a co-signature entails. This way, when the opportunity arises, you will be able to make the right choice.

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Children's education in Lleida, in the European first division


Another school year begins, also for the youngest ones. In Lleida , the Escoles Bressol Municipal (EBM) network offers 1,036 places for students from 0 to 3 years old distributed in the 18 educational centers that the city council has in the city. Although schooling at this early age is not compulsory, the pedagogical philosophy of this project has become a European benchmark for other nursery schools . They flee from the term kindergarten , they are quality public educational centers that promote the development of children in a welcoming environment that facilitates learning, experimentation and autonomy.

Children of one year share a classroom with a maximum of twelve students. With them are two teachers and some reinforcement educator. Depending on the trimester, a trainee is added to the team. In the elder classes, they can be a score. Those of the youngest, newborns with at least 4 completed months, can not be more than 8, have bottles and quiet spaces for mothers to feed the infants. Mireia Moliné, the director of the Escola Bressol de Balafia, explains that “now the walls are empty, but little by little they will be filled with the results of the workshops and the activities that the students will be doing”. And he continues: “Each classroom is different, distributed in corners of activity in which children will know the different languages, from the musical to the mathematician or the plastic”.

Each school has its own projects but the 18 centers share the same philosophy in which the main objective is to foster a welcoming school adapted to the physiological, emotional, social, play and autonomy needs of each child. For this, the more than one hundred teachers of the network participate throughout the school year in joint training programs, visit schools with different characteristics and even lead European cooperation programs such as Comenius or Erasmus Plus.

Fantasy at the service of learning

Fantasy at the service of learning

In Balafia’s nursery, one of the classrooms looks like a small theater. There are puppets, costumes, mirrors, hats and a long list of accessories to explain stories. The adjoining room has walls covered with slates, placed at ground level. Some are for drawing with markers and others, more conventional, for colored chalk. Above, almost on the roof, a structure serves to dry the works of art that will decorate the walls and corridors of the center. There is also paint of hands, of fingers, to paint with rollers, with brushes, waxes and tampons to stamp.

In a corner of each classroom there is also a mini library. In some of the schools children can even take the books home with their loan card. Near the diaper changing room and the bathroom, several small shelves keep the experimental gadgets. Pineapples, wood, sponges and all kinds of objects that, by their materials, shapes, colors or smells, awaken the senses of the smallest. Wooden puzzles and abacus color the corners of mathematics. The symbolic game, the one that reproduces scenes from everyday life, is always a success. In the classes of the EBM there are small grocers, medical consultations, dollhouses and kitchens.

In the playground, children’s games, bikes and scooters share space with the orchards and sandy areas. In them, the children themselves will plant and take care of their vegetables for weeks until they can eat them. In this way the child approaches nature, which also, to encourage the consumption of fruit, will eat seasonal fruit every morning in the classroom.


The neighbors pushed the project

The neighbors pushed the project

The mayor of Lleida, Àngel Ros, explains that “the Escoles Bressol were born in the Federation of Neighborhood Associations of Lleida”: “I remember it perfectly because then I signed the payroll of the teachers, which were paid thanks to a subsidy from the City Council ” The first center opened in the neighborhood of Pardinyes in 1976 but quickly other neighborhoods copied the experience to become a first network, which would end up assuming the consistory and that depends on the Regidoria d’Educació i Infància. Ros says that “at the moment, the Escorens Bressol network is one of the most beautiful projects in Lleida” and adds that the city can boast of having “the highest ratio of public centers of 0-3 years per inhabitant of the state”.

Neus Àvila was one of the first teachers of that first center in Pardinyes. Today she is part of the team of the school of Balafia with about fifteen more educators and tells that in her first years as a teacher “there were mainly children of 3 and 4 years, since compulsory schooling started later”. Àvila, with three decades of experience behind him, explains that “spaces were being adapted in many other neighborhoods such as the Secà de Sant Pere, the Bordeta, the Blocks Juan Carlos or in Sucs” and adds that “what has evolved the most is the pedagogical proposal and the facilities “.

The schedule of the nursery schools is not a prolonged schedule and follows the teaching day of the superior courses. The head of the Technical Unity of the EBM of Lleida, Carme Roma, says: “We are aware that other types of centers offer other longer hours, but we must understand that we do not work under the same concept in terms of Education.” “The schedule is part of the pedagogical philosophy, since the children in the school have routines and habits, a play time and many activities scheduled inside and outside the classroom, in addition to the dining room and the siesta time, but We believe that time at home with the family is very important, “he adds.

Custom installations
In nursery schools everything is designed according to the size of the children, that is, less than one meter high. The doors have protective systems to prevent injuries to their hands and along the corridors, small windows allow students to see the patio. The heating goes below ground, which benefits the students who still crawl. In addition, this type of heating avoids having radiators with which children could burn.

The toilets, always inside the classroom so that the educators do not have to leave the class, do not rise more than two feet from the ground, like the pikes to wash their hands. Carlos Sáez, the architect of the Escola Bressol Municipal de Balafia, explains that “projecting a school for such small children has nothing to do with devising a primary school or an institute, because the protections, the warm materials and many of the details they were introduced in a joint work with the team of teachers who analyzed the needs of the children “. “I am very satisfied with the EBM projects that I was commissioned, since the ventilation systems, the facades with air chambers, the orientation or the mobile porches make these schools sustainable buildings and low energy consumption”, adds the architect.

Projects outside the classroom
In addition to life in the center, Bressol Municipal Schools have an intense activity outside the classrooms, ranging from swimming courses to trips to the Mitjana Park to discover the fauna and flora of the territory or visits to the city’s museums . One of the innovative cases presented as a model outside our borders is the project that Lleida’s network of children’s schools has been carrying out together with the Center d’Art La Panera for more than 10 years. The Bressol Escoles teachers and the educational service of the museum elaborate cultural proposals and contents related to temporary exhibitions adapted to children from 0 to 3 years old.

This week, in the many children -even babies- begin their very first schooling, they will be hard days of tears and adaptation. However, the adventure has just begun and little by little the routine of leaving home for a few hours will be filled with discoveries. With the help of the puppet theater, the garden, the two-hand wash basins, contemporary art and seasonal fruit, the young children of Lleida will experience new experiences and their first learnings. What they will not discover until years later is that, far away from there, in other nurseries in Europe, other children and teachers will learn from them and copy their method.    

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Commissioner: Plan against poverty has lessened effects of cuts


Santa Cruz de Tenerife, July 15 (EFE) .- The Commissioner of Social Inclusion and Fight against poverty, Néstor Hernández, said today that the anti-poverty plan has managed to lessen the effects of the central government’s cutting policies and, for the writing of a new plan, asked for a reflection so as not to improvise measures before a situation that he considered dramatic.

Hernández, who appeared in a parliamentary committee at the request of the Popular and Socialist groups, defended a strategy that combines a reflection based on a diagnosis of the situation with concrete measures of an immediate nature on the affected population.

The commissioner, in response to criticism from the Popular Party’s deputy, Josefa Luzardo, about the “disaster” in the management of social policies, indicated that since “minute one”, the Executive has put in place measures to increase the budget items in this scope such as the approval of an extraordinary loan for dependence and the PCI.

Regarding this last aid, Hernandez referred to the conclusions of the plan against poverty that has been in force until 2015, and although it highlights the budgetary increase in all the chapters, especially for the PCI, it considers that it has not been enough to attend to the most vulnerable population.

It also stresses that beyond palliative measures, a strategic plan must be drawn up due to the high rates of poverty and social exclusion in the Canary Islands, although in this regard it alluded to the different figures that exist in this regard.

The commissioner recommends that in the business development measures contained in the plan, which he explained was the least execution had to be established more than financial instruments subsidy programs to companies.

This business development measure had 405 beneficiaries in three years and 556 jobs were created.

In his recommendations, the Commissioner recommends maintaining the social employment plan and deepening collaboration with municipalities to adjust the offer of the plan to the demands of the municipalities.

In response to the emergency and with regard to subsidies to entities of the third sector and other administrations, it proposes the evaluation of each one of the programs that allow knowing the actual number of beneficiaries, the level of correction of inequities and, consequently, apply more objective criteria in the distribution of resources.

He also explained that a special home help plan is also recommended, the investment of one hundred percent of the budget for the disability or that in the care of children increases the coverage for free school meals.

He recalled that in this program of attention to children have executed almost 180 million budgeted and the number of beneficiaries has been 28,988.

He also stressed that in gender violence has run more than 18 million euros, 400,000 euros more than initially determined for this area.



The Popular Party deputy Josefa Luzardo complained that one year after her appointment, the Commissioner has not appeared in the Parliament of the Canary Islands and criticized that the previous poverty strategy whose validity ended in 2015 has not been evaluated.

Luzardo said that social policy is a “disaster”, indicated that there are 600,000 people at risk of social exclusion and questioned, among other aspects, that the 12,000 people who have approved the Canary Insertion Benefit are charging it and said that although they have been produced new additions to the dependency system, 300 deaths have also been counted.

The parliamentarian asked, on the school canteens, not to make a distinction between children with resources and without resources, but to program activities in the centers in summer and minors who need it to be scholarships.

Teresa Cruz Oval, from the Socialist group, said that the Canary Islands was the first autonomous community with a plan against poverty, a document that has served to formulate other plans against poverty and in favor of social inclusion.

The deputy indicated that the economic crisis has extended and chronicled poverty, which has become a structural problem of Canarian society and stressed that since 1998 poverty has the face of a woman, single parent and disability and noted that it has There has been a deficit in social policies and the problem has not been tackled.

He claimed an answer “with rigor” and valued that the fight against poverty and social exclusion is based on active employment policies or that guarantees for basic needs are guaranteed.

Melodie Mendoza, from the Mixto group, said that in the Canary Islands there are 215,000 people living in severe poverty, and that 37 percent of the population is at risk of social exclusion, which in their opinion, constitutes a drastic and worrisome situation.

Luis Campos, of the Canary Islands, stated that the plan was insufficient and with amounts that were not real, criticized the effort made by the municipalities and criticized that a diagnosis has not been made in more than a year.

María del Río, from the Podemos group, wondered why poverty is perpetuated in families from generation to generation, questioned the political will and the management that is made from the administration and criticized that emergency solutions are not being given and important problems of exclusion are not being resolved.

The deputy of the Nationalist group, Elena Luis, said that we must continue making efforts to increase social policy items and combine medium-term policies with urgent actions. EFE

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