Tag Archives: co-signer

My Son Co-Signed a Car Lease With a Girlfriend. Is He Liable? – Rebecca

“Dear Steve, My son (now 30) co-signed a car lease with a girlfriend in 2006. It is her car. They have since split and she traded the car in on a brand new one. Nissan Motors is owed $1800 for mileage overage and misc. Her last payment on this was in Jan 11 for $5.00. [...]

I Cosigned for My Sister’s Truck and Now She Can’t Make The Payments. – James

“Dear Steve, Hello..my question is I co signed on a lease for a truck for my sister..dumbest thing I’ve ever done. It’s got bout 10 payments and she cannot Pay it either can I. What are my options what can I do to not hurt my credit anymore? Screwed and regretful Anything I can to [...]

My Bankruptcy is Impacting My Son’s Credit. – Kathy

“Dear Steve, We filed bankruptcy in January 2009 and we are paying it back through the courts. The question I have involves my son, I was cosigner for him on a charge card from a bank that was included in the bankruptcy the lawyer I used said I had to include eveything that had my [...]

I Guaranteed a Loan for Another Business. Will They Come After Me? – Vernal

“Dear Steve, Self-employed, Signed on some loans for another person’s business, that person is not paying. Now they are coming after me and have put a lien on my property. And another loan, they got a judgement and zeroed out our bank accounts, have no money. everyone is coming after me. I own 2 pieces [...]

Will My Friend that Cosigned for My Motorcycle Be Stuck With My Debt When I Go Bankrupt? – Tommy

Tommy “Dear Steve, Currently have two accounts opened with Honda Card Services, financed through GE. On one of the cards I was charged for a motorcycle which later got stolen (No gap, no insurance), and the other card was used for maintenance of the bike (oil changes, etc). Both cards were co-signed with one of [...]

I Don’t Want to Ruin My Cosigners Credit But I Need Help! – Joe

“Dear Steve, I hope you can lead me in the right direction. I am in serious debt trouble. I don’t know were to go from here. My debt is out of control with 2 bank loans 5000 a piece, 1 credit card $16,000 which I have a cosign on and have never been late. 2 [...]

Would a Cosigned PHEAA Student Loan Be Forgiven By Disability? – Ron

“Dear Steve, Is the cosigner responsible for pheaa students loans if death or disability of the student occurs? Ron” The Answer: Dear Ron, Ultimately you’d have to look at the actual loan document. But since the cosigner is guaranteeing to repay the loan if the student did not I would have to imagine that if [...]

Chloe Ruins Credit of Daughter With American Express

Chloe “Dear Steve, My daughter opened an AMEX card for me since my credit is fair. She got me a card in my name off of her account to be used for emergencies For the first 8 months of the card I was able to pay the bill however in mid July I came upon [...]

Will They Go After My Son for the Car I Co-Signed For? – Dawn

Dawn “Dear Steve, I co-signed for a car for my son. He wasn’t able to make the payments anymore because the engine blew up on the car. I know I’m responsible as a co-signer and all I can afford to do at this time is to turn it back into them. Is there any protection [...]

My Father Cosigned for Our Truck. He Doesn’t Know He Owes the Debt. – Jami

“Dear Steve, Hi. We have run into quite a bit of problems. It has been one thing after the other, and some rather bad choices. In 2004, we had a car with a small payment. Only $284 per month. My husband decided that he would like a van for our family since we have 4 [...]

I Don’t Want The Car In My Driveway, I Can’t Afford, to be Repossessed or Effect My Credit. – Brandy

Brandy “Dear Steve, I signed a car loan for an ex, now he is not paying…What do I do next? In November 2008 my boyfriend of 3 years and I went to a auto dealer. We traded in both are vehicles for a 2005 Jeep Liberty (for him) and a 2004 Nissan Murano (for me). [...]

My Husband Just Left Me and I Won’t See a Dime From Him. – Lynne

“Dear Steve, My husband just left me and has let me know very clearly I will not see “a dime” from him. This cuts my household income down from $4600 to less than $2000. We had bought our home 3 years ago and managed to build up about $20,000 in credit card debt. This is [...]

Was I Wrong to Co-Sign for a Car for a Friend? – Stewart

“Dear Steve, I have co-signed a car for a friend that was once living in toronto now he has moved back to montreal, but he hasn’t been able to make the payments for the car and is often late doing so, he is now caught up with payments but I have been asking him to [...]

My Ex-Wife is Claiming Bankruptcy For Some Debt I Am Responsible For. – Steve

“Dear Steve, My ex-wife is claiming bankruptcy and she has some debt that I am a co-signer on. I do good to get by with the debt that I have myself. I can not afford to take on her debt (about another $200 a month). Should I consider bankruptcy myself? I fear if i do [...]

Should I Pay Off a Loan I Cosigned For And Not Let It Go Into Bankruptcy. – Victoria

Victoria “Dear Steve, I co-signed a loan through a credit card company for a friend to open a business. I have already renegotiated the rate down to 4%. I did it in my friend’s name. She has other debts related to the business and wants to go bankrupt. I do not want my credit affected [...]