4 Comments

1. Becky F says:
   May 29, 2010 at 3:42 pm

   You are sooo screwed. I hope this is a lesson you will never forget. By chance can you sucker anyone else into co-signing??? If they had a strong co-signer maybe someone would refinance them. Other than that…I feel for ya.
2. Kasey C says:
   May 29, 2010 at 3:57 pm

   “They” being a bank or a loan company?

   Try another one. Lots of banks and credit unions out there.

   Don’t co-sign anybody in the future. If you co-sign, you agree to be responsible if the other person can’t pay up. Looks like you KNEW that going in but didn’t think it’s going to happen. Well… now you know.
3. John R says:
   May 29, 2010 at 4:38 pm

   If there was much money envolved, get a lawyer. If not you’re stuck. Rule #1, Never co-sign for a loan for anyone, including relatives. That is if you don’t mind being stuck for the whole loan. Rule #2, Don’t forget rule #1.
4. Michael W says:
   May 29, 2010 at 5:34 pm

   John is so right. NEVER NEVER Co-Sign. I wouldn’t co-sign for my mother. They have the co-signer idea for only one reason. it’s called “Another way to get someone into a Vehicle other than the right way”. If you co-sign, and they get into an accident the people can sue you too even if you were’nt in the car. There is nothing good about co-signing. The only way is to refinance. A lawyer is probably not going to help.