Need some advice and a smarter son.
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It cost money to get an education whether it is at a real college or at the school of hard knocks. Larry
In short,
He is going to be paying a "Hooter's" tab until it is paid off.
Be glad the "knee "problem did not produce a ...Man, I HATE this
phrase...a "baby daddy" problem.
He is going to be paying a "Hooter's" tab until it is paid off.
Be glad the "knee "problem did not produce a ...Man, I HATE this
phrase...a "baby daddy" problem.
Not every time. I co-signed the first loan that each of my four kids got on a car. They never missed a payment to the finance company or credit union... but they knew what I'd have done if they had missed one.
Would I do it for anyone else? Uh, NO.
I'd tell him it's part of his humanitarian giving to others. Sounds like many will benefit from, and be thankful for, his generosity...! He gave, so she could give some more. Etc., etc., etc.
I agree that it is a good life lesson. We all have them, and hopefully learn from them. He's young, he'll rebound!
I agree that it is a good life lesson. We all have them, and hopefully learn from them. He's young, he'll rebound!
It seems like every time some guy's live-in love monkey wants enhancements, she makes him believe that she's doing it for him. And the sad thing about it, the poor schnook actually believes her. I guess it's true when they say, "Love is blind." If it's not blind, it sure as heck needs glasses!
My adage is, never trust a good-looking woman...especially if she acts like she's interested in me.
My adage is, never trust a good-looking woman...especially if she acts like she's interested in me.
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Make sure she can't get any money added to the loan.
crsides
US Veteran, SWCA Member, Absent Comrade
If the bank won't give her a loan ... red flag. I know a really smart guy co-signed a $100k loan for his best life long friend to expand his gunshop. He paid
I would NEVER EVER cosign a loan, unless there were some perkies invoived.
Charlie
I would NEVER EVER cosign a loan, unless there were some perkies invoived.
Charlie
Mickey D
Member
Be thankful he's not paying for 18 years.
Silver Dollar
US Veteran
He ought to pay the loan off with Monopoly money. The money ain't real and neither are the perkies. I got that from Larry the Cable guy.
Fishslayer
US Veteran, Absent Comrade
^^^ This. My wife cosigned a school loan for a gal pal of hers. To my knowlege (a shame when you have to add a qualifier like that
) we never got out of pocket but the gal was constantly late & we got phone calls about every other month.The "I told you sos" I got to hand out weren't nearly worth it...
Ok, so your son co-signed a personal loan so his girfriend could get
some money to buy "perkies", and now he is claiming to be a victim in
this little game because "she" won't pay the money back. The "perkies"
were for her and no doubt gone in one night. Your son knew about her
knee problem and that's why he did whatever he could to try to keep
her happy, for a little while at least. Now "Baby Boy" is crying to good
old dad about getting scamed. Your son knew she had no money and
surely never really expected her to pay back the money. This isn't the
kind of rip-off you're going to take to any court. Does your son live
with you? Have you helped him out financially before when he had
problems? Your son needs to be smarter but may be a bit smarter
than you think he is. Maybe good old dad needs to get a little smarter.
some money to buy "perkies", and now he is claiming to be a victim in
this little game because "she" won't pay the money back. The "perkies"
were for her and no doubt gone in one night. Your son knew about her
knee problem and that's why he did whatever he could to try to keep
her happy, for a little while at least. Now "Baby Boy" is crying to good
old dad about getting scamed. Your son knew she had no money and
surely never really expected her to pay back the money. This isn't the
kind of rip-off you're going to take to any court. Does your son live
with you? Have you helped him out financially before when he had
problems? Your son needs to be smarter but may be a bit smarter
than you think he is. Maybe good old dad needs to get a little smarter.
Re never consigning, I don't agree with that. Just gotta be real sure who you are consigning for, and why.
I consigned for a couple opening a restaurant, but the missus and I had known them for over 20 years. Hard wioking and focused couple. They paid it back, in full, and no issues, ever, for me.
Restaurant is going gangbusters.
Perkies is definitely a young man's mistake.
But, SC, you can point out to your son that the most powerful guys in the world do stupid things when it comes to the ladies -- Bill Clinton, etc. -- so he does not need to beat himself up over it forever. Just man up, do the right thing, take his lumps and move on a wiser man. Hopefully it is a lesson that takes.
I agree that you should not bail him out. Lesson would be lost if you did that.
I consigned for a couple opening a restaurant, but the missus and I had known them for over 20 years. Hard wioking and focused couple. They paid it back, in full, and no issues, ever, for me.
Restaurant is going gangbusters.
Perkies is definitely a young man's mistake.
But, SC, you can point out to your son that the most powerful guys in the world do stupid things when it comes to the ladies -- Bill Clinton, etc. -- so he does not need to beat himself up over it forever. Just man up, do the right thing, take his lumps and move on a wiser man. Hopefully it is a lesson that takes.
I agree that you should not bail him out. Lesson would be lost if you did that.
That may well be so, but he was not thinking with his brain when he made that deal.
He's gonna pay, but he needs to get his hands on the collateral.
CAJUNLAWYER
Member
Under Louisiana law your son is SOL. Regardless of the underlying reason for the loan-the reason why a lender requires a co signer is because the lender doesn't think the borrower will pay back the loan. Period.
If a sophisticated lender has made that decision-it would behoove the proposed co signer to think carefully as to his second guessing a loan institution and signing off believing the entreatees of the borrower that he/she will pay back the loan and that the co signer signature is a mere formality that will never come back to bite the cosignor. Sometimes that lesson is learned the hard way. I can't tell you the number of people I see regularly who have gotten themselves in this trick bag. It's really sad.
If a sophisticated lender has made that decision-it would behoove the proposed co signer to think carefully as to his second guessing a loan institution and signing off believing the entreatees of the borrower that he/she will pay back the loan and that the co signer signature is a mere formality that will never come back to bite the cosignor. Sometimes that lesson is learned the hard way. I can't tell you the number of people I see regularly who have gotten themselves in this trick bag. It's really sad.
This is unavoidable logic, and SHOULD not even require stating. In fact, however, it does, and should probably be some kind of a test question on every test in every subject for all four years of high school. And some people would still ignore it.
OP
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Thanks CL
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I was pretty sure that would be the outcome, but just wanted to see if there was a possibility. I'm sure FL law is about the same as LA law. It was as much of a venting on my part as it was a question/asking for advice.
Some here are right. Some made funnies and I laughed at them too. One made a character attack on my son and then threw a rock at me. I'm too old to duck/dodge bullets any more. Now I just shoot back.
How's your snapper season going over there? Ours has been an absolute flop. Red grouper too. Having to fish hard to catch 18" fish and still haven't caught a limit of red grouper. Last year 4 or five of us could be limited on both and headed in by 11 AM.
Thanks for the info,
SC
XXXXXXXXXXXXXXX
I was pretty sure that would be the outcome, but just wanted to see if there was a possibility. I'm sure FL law is about the same as LA law. It was as much of a venting on my part as it was a question/asking for advice.
Some here are right. Some made funnies and I laughed at them too. One made a character attack on my son and then threw a rock at me. I'm too old to duck/dodge bullets any more. Now I just shoot back.
How's your snapper season going over there? Ours has been an absolute flop. Red grouper too. Having to fish hard to catch 18" fish and still haven't caught a limit of red grouper. Last year 4 or five of us could be limited on both and headed in by 11 AM.
Thanks for the info,
SC
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