Never cosign a loan. While I agree that one should NOT cosign. cosigning can hurt or help. Remember that if they do not pay you have to. Cosigning will affect your credit and count towards your debt to income ratio and show as an open joint auto loan. You might be turned down to get your own auto loan without a cosigner if you cosign.
Yes. If the signer defaults on the loan, then you, as the cosigner, would be liable.
You need a lisence to drive the car, but not to cosign a loan.
For the length of the contract you sign. If you cosign on a 3 yr loan, you are responsible for the debt for 3 years.
Did you help make payments? If all you did is to cosign, then no.
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
That would depend on the rules and procedures of the loan provider. If the cosigner alleged that the signature was not theirs, it could create a problem if the signature was not properly witnessed.
No. The cosigner would have to apply for a loan in their name using their credit, income data.
The cosigner's credit isn't affected one ioto unless the person who was responsible for the loan payments defaulted, then and if the cosigner also defaulted. In other words, just being a cosigner does not affect ones credit ratings.