Question: I co-signed for a friend for a loan. She stopped making payments. I am now getting calls from the creditor. Am I responsible?
A: Yes, you are responsible. The creditor can sue you for the full amount of the debt if you do not make the payments. If you get sued, you will probably lose. Then what?
You will have to sue the former friend to get her to reimburse you for the amount of the judgment against you. You will then have to try to collect from her, which will probably not be easy since she probably has no assets.
This is the biggest reason you should not co-sign for a loan for someone!