Comments on: My Father Cosigned for Our Truck. He Doesn’t Know He Owes the Debt. – Jami http://getoutofdebt.org/16561/father-cosigned-for-truck-doesnt-know-he-wes-debt Free debt help and debt advice on how to get out of debt, getting out of debt consolidation scams, and inside information on the debt relief and debt help industry. Sun, 12 Feb 2012 06:45:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jeff Jackson http://getoutofdebt.org/16561/father-cosigned-for-truck-doesnt-know-he-wes-debt#comment-18334 Jeff Jackson Wed, 06 Jan 2010 16:48:11 +0000 http://getoutofdebt.org/?p=16561#comment-18334 Jami, as Steve pointed out, you definately need to get your father involved and understanding of the ramifications. Another point to consider is who the lender is. If you or your father has a relationship with the lender, you may be able to work out a deal where the vehicle is surrendered and a low payment plan is established to pay off the difference. Obviously your father would be on the hook, but if his financial position is good enough to carry a low payment for another five years for the difference, everyone may actually win given the circumstances. Best of Luck. Jami, as Steve pointed out, you definately need to get your father involved and understanding of the ramifications.

Another point to consider is who the lender is. If you or your father has a relationship with the lender, you may be able to work out a deal where the vehicle is surrendered and a low payment plan is established to pay off the difference. Obviously your father would be on the hook, but if his financial position is good enough to carry a low payment for another five years for the difference, everyone may actually win given the circumstances.

Best of Luck.

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