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PrincessP
Big sister!!!!!!!!!!
Member since 12/05 17450 total posts
Name:
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would you or have you signed for someone with bad credit?
Like on a house or car? Any opinions on this... My gut says no but I feel bad.
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Posted 8/9/07 3:26 PM  |
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Phyl
R.I.P. Sweet Mia ♥
Member since 5/06 28918 total posts
Name:
The Mystical Azzhorse! ™
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Re: would you or have you signed for someone with bad credit?
No!
ETA: If they default or are late paying it goes on your credit too and they will ask you for the $$ as co-signer.
Message edited 8/9/2007 3:28:00 PM.
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| Posted 8/9/07 3:27 PM |
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CunningOne
***
Member since 5/05 26975 total posts
Name:
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Re: would you or have you signed for someone with bad credit?
No way. Why should you feel bad? If their credit is bad, there is a reason. Don't get involved!
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| Posted 8/9/07 3:27 PM |
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pmpkn087
Life is good...
Member since 9/05 18504 total posts
Name:
Stephanie
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Re: would you or have you signed for someone with bad credit?
Nope, never did never will...unless it was my child.
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| Posted 8/9/07 3:28 PM |
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Shelly
She's 7!!!
Member since 8/05 14624 total posts
Name:
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Re: would you or have you signed for someone with bad credit?
It depends who.
My child, my DH, my mom or my sister- Yes.
Anyone else- no.
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| Posted 8/9/07 3:30 PM |
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LIMOMx2
...
Member since 5/05 24989 total posts
Name:
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Re: would you or have you signed for someone with bad credit?
Never will!
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| Posted 8/9/07 3:32 PM |
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Hi-Fi55
12 years...wow....
Member since 2/06 2984 total posts
Name:
Dianne
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Re: would you or have you signed for someone with bad credit?
NO! Unless you feel that you wouldn't mind winding up making the payments, do not co-sign!
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| Posted 8/9/07 3:32 PM |
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lvdolphins
My Loves!
Member since 5/05 46292 total posts
Name:
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Re: would you or have you signed for someone with bad credit?
No
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| Posted 8/9/07 3:32 PM |
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pinkandblue
Our family is complete, maybe
Member since 9/05 32436 total posts
Name:
Stephanie
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Re: would you or have you signed for someone with bad credit?
I did this once for a family member, no regrets, it worked out fine 
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| Posted 8/9/07 3:33 PM |
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baghag
:P
Member since 5/05 10278 total posts
Name:
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Re: would you or have you signed for someone with bad credit?
I haven't, and I wouldn't. A lot of potential problems down that road.
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| Posted 8/9/07 3:34 PM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: would you or have you signed for someone with bad credit?
I did this for my sister for a cell phone, worked out fine. I don't think I would do it for a bigger ticket item like a car or house
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| Posted 8/9/07 3:34 PM |
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MsMBV
:P
Member since 5/05 28602 total posts
Name:
Me
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Re: would you or have you signed for someone with bad credit?
yes.
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| Posted 8/9/07 3:35 PM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: would you or have you signed for someone with bad credit?
NO!!!
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| Posted 8/9/07 3:36 PM |
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-Laurie-
Hi!
Member since 5/05 2536 total posts
Name:
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Re: would you or have you signed for someone with bad credit?
Yes, for my parents. Actually the loan is in my name but for them. I gave them the money and then the payments come thru me and I make them.
I made sure I could 110% make the terms of the loan if they couldn't.
So far so good they have been paying extra to the principal and it's almost over.
Their credit is shiz from living on LI and my Dad being forced into early retirement and having to cash out his benefits while I was in HS. If he could have kept his career for 5 more years they would be living on easy street from his pension. Luckily that hard living helped me have excellent credit they needed a loan and I could get one at 5.99 % compared to the nearly 30% they would have.
It was a win win situation for all. They hated it but honestly the difference in the length of the loan and them realizing how fast they could pay it off with my name on it compared to there's made all the difference. Plus I have my hands in it enough that I have about 10 days to make the payment if they don't have the money in my hands.
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| Posted 8/9/07 3:43 PM |
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dgtlsunshine
LIF Infant
Member since 12/05 217 total posts
Name:
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Re: would you or have you signed for someone with bad credit?
No, and I almost cut off my husband's head when a family member asked him to cosign on a home loan a few weeks ago.
People really have the nerve. I was upset they even ask him to do such a thing less more for him to consider it.
The situation above regarding parents I think I would look at that differently.
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| Posted 8/9/07 3:48 PM |
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EmmaNick
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Member since 12/06 16001 total posts
Name:
*
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Re: would you or have you signed for someone with bad credit?
Nope, I wouldn't. If they default, it's on you and that's just too much financial responsbility (for me at least!).
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| Posted 8/9/07 3:48 PM |
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mtnmama
Member since 5/06 4794 total posts
Name:
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Message edited 7/13/2009 3:27:03 PM.
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| Posted 8/9/07 3:50 PM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: would you or have you signed for someone with bad credit?
Absolutely not, too many possible bad consequences can occur.
My dad once told me never to ask him to co-sign for a credit card or a loan because he wouldn't do it. His theory was that if my finances were such that I couldn't get it on my own, I probably wouldn't be able to keep up with the payments either.
Back in the old days, when I was in college, an 18 year old couldn't get their own credit card and I think it was probably better that way for a lot of people.
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| Posted 8/9/07 3:52 PM |
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EmmaNick
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Member since 12/06 16001 total posts
Name:
*
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Re: would you or have you signed for someone with bad credit?
I wanted to add that I work as a bankruptcy paralegal and I can't tell you how many clients we have that had co-signers and then filed BK and now the co-signer is stuck with the bill. It's really a sucky situation and the co-signers usually call us all pissy as if it's our fault.
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| Posted 8/9/07 3:54 PM |
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Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
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Re: would you or have you signed for someone with bad credit?
Unless they are married to me or raised me, NO.
Luckily none of these people have bad credit. 
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| Posted 8/9/07 3:57 PM |
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alisha
LIF Adult
Member since 3/07 1199 total posts
Name:
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Re: would you or have you signed for someone with bad credit?
Posted by Shelly
It depends who.
My child, my DH, my mom or my sister- Yes.
Anyone else- no.
Ditto
Never for friends and only for close family.
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| Posted 8/9/07 4:00 PM |
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GenLCSW
Baby # 3 is here!!!
Member since 7/05 21138 total posts
Name:
Genna
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Re: would you or have you signed for someone with bad credit?
I never had and I never would!
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| Posted 8/9/07 4:13 PM |
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2PreciousBlessings
The Perfect Pair
Member since 5/06 19861 total posts
Name:
Best Wife & Mommy
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Re: would you or have you signed for someone with bad credit?
ABSOLUTELY NOT!
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| Posted 8/9/07 4:14 PM |
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Sassyz75
Turning a new page
Member since 5/05 9731 total posts
Name:
Dina
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Re: would you or have you signed for someone with bad credit?
NO WAY!
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| Posted 8/9/07 4:15 PM |
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Katie111806
Team Pink!
Member since 12/06 5349 total posts
Name:
Katie
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Re: would you or have you signed for someone with bad credit?
Definitely not.
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| Posted 8/9/07 4:15 PM |
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