I'm glad he's taking the situation seriously and getting the balance paid down! Everyone makes mistakes and if this is his first transgression of this kind with you on the hook, then maybe he truly can learn from it and not repeat the cycle. Even if he continues to have his own debt problems in the future, perhaps he'll at least prioritize keeping you out of it.
@Officer737 wrote:
Be real careful. Honestly, I would find some way to pay the loan off (new one with you only on it). pay the old loan and make him pay you instead and then pay the new loan. What's to say that it won't happen again?
I was going to recommend something similiar. Perhaps not for this time if the situation truly has turned around and you feel better about it, but for next time if something like this ever comes again. If it were me, rather than cosigning I'd either lend the money myself or take out the loan myself and get payments from him. My reason being that if you're going to tie your fiances to someone else anyway (which is what co-signing does) then better to at least be in charge of the loan and repayment.
