Should I take out a loan or help someone else take out a loan?

What should I know before taking out a loan for myself or someone else?

• Predatory Lending: Learn about predatory lending practices and how to identify them. By staying informed and cautious, you can make smart financial decisions and avoid falling into predatory lending traps. Watch a short video about what to watch out for to avoid predatory lending.
• Avoid Cosigning: Do not cosign a loan, phone contract, or rental agreement. It’s important to protect yourself from potential financial liabilities.
• Reach out for Help: If you’re struggling financially, reach out to your worker for guidance before considering options like MoneyMart or predatory lenders.