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I knew it was a risk
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<blockquote data-quote="Hound dog" data-source="post: 222365" data-attributes="member: 84"><p>Well.......she could've not made the payment and not told you about it. At least she's being honest which let's you know what's going on.</p><p> </p><p>easy child's husband co-signed on a school loan for one of PCs friends. Came back to bite them both in the arse big time. Friend never bothered to pay on the loan. (40,000) And never told easy child about it. Not a single payment. easy child and sister in law found out when the loan co started calling them and demanding payment. Bad because by then the loan was severely in arears (sp). And easy child couldn't even get them to cooperate without a major battle.</p><p> </p><p>easy child and sister in law have been paying on this loan for a year now. The friend has still paid nothing. Loan company isn't even going after her. Finally after this month the past due amt will be gone and the kids can start making the normal loan payment.</p><p> </p><p>They learned their lesson the hard way. I'd told them not to do it. I never co-sign. Never. Not even for my own kids. Anything can happen and you're stuck with that dept.</p><p> </p><p>You've learned a valuable lesson. Literally. I hope friends health improves and she can take over the loan and you're not stuck. </p><p> </p><p>Me, I don't loan money. Period. Even when someone has to borrow from me I never even consider it unless it won't hurt me not to get the money back. That way if they pay me back it's great, if they don't it's no sweat because I didn't expect it in the first place.</p><p> </p><p>Getting a loan for xmas is in my opinion silly. Believe me, we've had our fair share of lean ones. But it just makes the nice ones so much better and more appreciated.</p><p> </p><p>Unfortunately now you're stuck. If friend can't / won't pay on the loan you have to or you're credit will be affected.</p><p> </p><p>Such a bummer when an act of kindness comes back to haunt you.</p><p> </p><p>Hugs</p></blockquote><p></p>
[QUOTE="Hound dog, post: 222365, member: 84"] Well.......she could've not made the payment and not told you about it. At least she's being honest which let's you know what's going on. easy child's husband co-signed on a school loan for one of PCs friends. Came back to bite them both in the arse big time. Friend never bothered to pay on the loan. (40,000) And never told easy child about it. Not a single payment. easy child and sister in law found out when the loan co started calling them and demanding payment. Bad because by then the loan was severely in arears (sp). And easy child couldn't even get them to cooperate without a major battle. easy child and sister in law have been paying on this loan for a year now. The friend has still paid nothing. Loan company isn't even going after her. Finally after this month the past due amt will be gone and the kids can start making the normal loan payment. They learned their lesson the hard way. I'd told them not to do it. I never co-sign. Never. Not even for my own kids. Anything can happen and you're stuck with that dept. You've learned a valuable lesson. Literally. I hope friends health improves and she can take over the loan and you're not stuck. Me, I don't loan money. Period. Even when someone has to borrow from me I never even consider it unless it won't hurt me not to get the money back. That way if they pay me back it's great, if they don't it's no sweat because I didn't expect it in the first place. Getting a loan for xmas is in my opinion silly. Believe me, we've had our fair share of lean ones. But it just makes the nice ones so much better and more appreciated. Unfortunately now you're stuck. If friend can't / won't pay on the loan you have to or you're credit will be affected. Such a bummer when an act of kindness comes back to haunt you. Hugs [/QUOTE]
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