What exactly are my duties if we co-sign that loan for some body?
You are responsible for the debt just as your friend or family member would be if you co-sign a loan for someone else, such as a friend or family member. In the event that other individual will not spend your debt, the creditor may come when you for payment of your financial obligation. You will need to really think about any of it before you co-sign that loan for some body. Generally speaking, individuals need a co-signer only when they will have credit issues. They be able to pay the debt if they have credit problems, will? If you don't, will they manage to spend you straight right back if you need to spend your debt?
What are the limitations to my obligation if i will be just the co-signer?
No! You might be in the same way accountable for your debt given that debtor.
What goes on if we co-sign that loan for my buddy and then he will not spend?
If you co-signed as well as your buddy doesn't spend, the creditor will come when you for repayment.