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Cosigning for a loan...disaster happens.

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CaptainTrips222
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12 Nov 2011, 6:33 pm

My mom cosigned for my brother's then girlfriend. The b**ch is a lawyer, makes money, but isn't paying. She now owes $8000.

Moral of the story- never cosign for anything. You have no legal recourse, and almost always regret it.



OneStepBeyond
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12 Nov 2011, 6:38 pm

or just don't get loans. 'never live beyond your means'~my nan



Titangeek
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12 Nov 2011, 11:13 pm

Or, never deal with a lawyer, unless absolutely necessary.


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keira
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13 Nov 2011, 6:10 am

I'm sorry to hear about that. :(
Actually things like that happen quite often. I would cosign for my closest family members because I wouldn't mind paying for them. In any other case I'd never cosigh and I wouldn't advise it to anyone else.