Tag Archives: cosign
- Is It Wise to Sign For a Mortgage For My Parents? – Lisa
“Dear Steve, Married, mid-30′s and working to manage our credit and stay out of debt. I wanted to know if it is wise to sign a mortgage loan for parents. Recently, there has been a request to do so and I have a feeling in the pit of my stomach that it would not be [...]
- 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 Cosigned for My Daughter’s Student Loans. – Terry
“Dear Steve, Single mother of 2 adults kids. Work FT. No savings, own a home. I cosigned for my daugher’s student loans. She went to an art school that she thought would give her what she wanted but after a year decided it was not for her. Now she has huge loans and credits are [...]
- 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 [...]
- My Children Landed Me in Debt. – Jane
“Dear Steve, My husband and I have inherited many bills from our children over the last year. One son was in a car accident and was sued by the other party for damages to their vehicle. Since he was under 18 at the time, I had to pay $6000.00 that my husband’s insurance refused to [...]
- How Long Will My Son’s Car Loan Hurt My Credit? – Merrilyn
“Dear Steve, I co signed for a GMAc loan for my son and he was late on the payment several times. We have since pd the car off. How long will this hurt MY credit? Merrilyn” The Answer: Dear Merrilyn, A negative entry on a credit report can appear for 7.5 years from the date [...]
- I Cosigned for a Car Loan and that Person Went to Jail. Now I Have to Pay it. – Noname
Noname “Dear Steve, I am in a distressed situation and i dont know what to do about it. I recently lost my job and I have 2 car payments that along with insurance is taking about 600.00 a month and recently a family member that i signed for a car went to jail so now [...]
- My Husband Cosigned for His Mothers Jeep. Guess What? She Defaulted. – Erin
Erin “Dear Steve, OK, here goes. My husband co-signed for his mom on a jeep in 2002 (he was 20). His mom then neglected on the payments and filed bankruptcy in 2005 (not sure weather 7 or 13). The car was repossessed without any contact to my husband (who no longer lived at home) to [...]
- My Husband Bought a Truck Two Years Ago. He Can’t Pay For It Anymore. his Father Cosigned. – Brandy
Brandy “Dear Steve, Almost 2 years ago, my husband bought a truck before we were married for a little over $34,000. His monthly notes are roughly $600 due to his bad credit even though his dad was a co-signer. This was okay until a few days ago when he was laid off and now realizes [...]
- I’m Willing to Co-Sign a Loan to Help Out My Guy. – Lou
Lou “Dear Steve, Asking for my guy. He’s currently about $50,000 in debt between his student loan, car loan, and using his credit card to pay bills while he was out of work. The card is a bit over $6k, car is between $10 and 11k, and the student loan is around $34k. He currently [...]
- Ten Years Ago I Guaranteed a Loan For a Friend. Now They Are Coming After Me. – John
“Dear Steve, I’m 65 yrs old. Sold my business in ’98. Have not worked since. Have 2 homes and travel a lot. That about sums it up. Signed a guarantee for a college Friend in 1999 for a business venture. Credit limit $6-8-10,000(??). Never ever used the card; never got a statement or call telling [...]
- I Cosigned on My Wife’s Car But Now I Can’t Get One. – Peter
“Dear Steve, I cosigned on my wifes car so she could get one and now i want to get my own car and cant because i cosigned for her and im not able to get a second car loan for myself, and her credit is not good enough to refinance in her own name, the [...]
- My Sister-In-Law is a Paranoid Schizophrenic With Student Loans We Cosigned For. – Sara
Sara “Dear Steve, My sister-in law has recently been diagnosed with paranoid schizophrenia and is currently locked up in in a mental hospital for the next few months, possibily years at this point. She owes about 6000 in student loans for which she has defaulted on. My husband is a co-signer on her loan so [...]
- My Life is a Financial Lie. People Think I’m Successful But I’m Buried in Debt. – Jamie
“Dear Steve, I have over $80,000 in debt NOT to include the first and second mortgages I owe on. I am seriously in debt and not making enough money to make a dent in it! I am single and won’t be getting a decent raise anytime soon. I have been struggling for 2 years now [...]
- How Can I Get the Car Repossession Lawyer to Accept My Settlement Offer? – Garlena
Garlena “Dear Steve, I cosigned for my son a car in 7/25/2001. We were in an accident, and the car was repossessed on October 3, 2006. The car was sold by private sale at Southern California Auto Auction. They said the vehicle sold for $1000.00, or 19% of the then book value of $5075.00. The [...]