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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: would you or have you signed for someone with bad credit?
Posted by Summerrluvv
Posted by PrincessP
Posted by Phyl
Posted by MrsT
I would for my dad but he would likely never need me to cosign.
I cosgined for a friend for a student loan and regret it. We were friends but have not been in a few years.
She just filed for bankruptcy and I only found out since I call Sallie Mae EVERY month to make sure she makes her payment. They are not coming after me for the money but I did contact her to let her know that once the payments start up again (student loans are NOT discharged in bankruptcy) that she will need to continue making her payments.
She studied bankruptcy law and even clerked for a bankruptcy judge  I have no idea what she thought she might discharge by filing for bankruptcy other than a car she recently bought (her boss co-signed)
Have you checked your credit reports lately? It can be reported on your credit too.
OMG! I would die! Does this friend plan on continuing to pay her student loan? If you took her to court would you be able to get that $$$ from her? 
Student loans are not dischargeable in BK, thus she HAS to pay on it. Chances are if she defaulted, it was already on the co-signers credit report prior to the BK filing.
I wasn't even aware that people actually have a co-signer on a student loan. I really thought they give those to just about anyone that is going to school.
Student loans are dischargeable under narrow circumstances - if the person is broke and destitute basically which she is claiming but she is a LIAR!!! She did not list her current jobs (2 part time and her own business) and is trying to seem destitute. It's okay, I will take care of that  I hope she goes to jail for fraud on the court!!
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Posted 9/2/07 7:18 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
munchkinbugs
My little loves!
Member since 1/06 8093 total posts
Name:
Lisa
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Re: would you or have you signed for someone with bad credit?
No. No matter how much I might care for that person, I can't trust someone with bad credit.
I've seen it tear families apart. I'm actually witnessing it as we speak.
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| Posted 9/2/07 7:35 PM |
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Spring Baby06
My two loves
Member since 5/05 3612 total posts
Name:
Jillian
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Re: would you or have you signed for someone with bad credit?
never have, never will!
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| Posted 9/2/07 7:43 PM |
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LIgrlatheart
LIF Adolescent
Member since 7/06 638 total posts
Name:
christi
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Re: would you or have you signed for someone with bad credit?
i would if it was someone very close (ie sister, etc)
but noones ever asked so i haven't had to decide if its for me or not
luckily they all managed their credit good so i prolly won't ever be put in that situation
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| Posted 9/2/07 8:07 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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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.
same, minus my sister.
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| Posted 9/2/07 8:08 PM |
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MissJones
I need a nap!
Member since 5/05 22136 total posts
Name:
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Re: would you or have you signed for someone with bad credit?
No!!!!!!!!!!!! Someone in my family wanted me to co-sign on a truck loan...I almost did. I was in such a bad place that I couldn't say no. Meanwhile, I was NOT in a spot that if he defaulted, could I pay it. Needless to say, a week later, I was in a car accident and needed a car of my own. Someone was looking out for me that day.
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| Posted 9/2/07 8:11 PM |
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seank80
Don't Taze My Dog Bro!!
Member since 5/07 2240 total posts
Name:
Sean
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Re: would you or have you signed for someone with bad credit?
One of My Ex's asked me to co sign a 40k student loan for her right after we broke up. We had dated for 5 years. It was good that I didn't because I still talk with one of her friends and she gets calls from the student loan company. The girl hasn't paid in loans in almost half a year. Do not do it.
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| Posted 9/2/07 8:18 PM |
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SPECIALNEEDSMOMMY
A Healing for Gregory
Member since 1/07 1217 total posts
Name:
Barbara
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Re: would you or have you signed for someone with bad credit?
Five years ago, I would have answered NEVER. I have done it twice. It depends on the situation and the person involved. It's hard to answer yes or no until your asked.
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| Posted 9/2/07 9:26 PM |
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EmmaNick
*
Member since 12/06 16001 total posts
Name:
*
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Re: would you or have you signed for someone with bad credit?
Posted by MrsT
Posted by Summerrluvv
Posted by PrincessP
Posted by Phyl
Posted by MrsT
I would for my dad but he would likely never need me to cosign.
I cosgined for a friend for a student loan and regret it. We were friends but have not been in a few years.
She just filed for bankruptcy and I only found out since I call Sallie Mae EVERY month to make sure she makes her payment. They are not coming after me for the money but I did contact her to let her know that once the payments start up again (student loans are NOT discharged in bankruptcy) that she will need to continue making her payments.
She studied bankruptcy law and even clerked for a bankruptcy judge I have no idea what she thought she might discharge by filing for bankruptcy other than a car she recently bought (her boss co-signed)
Have you checked your credit reports lately? It can be reported on your credit too.
OMG! I would die! Does this friend plan on continuing to pay her student loan? If you took her to court would you be able to get that $$$ from her?
Student loans are not dischargeable in BK, thus she HAS to pay on it. Chances are if she defaulted, it was already on the co-signers credit report prior to the BK filing.
I wasn't even aware that people actually have a co-signer on a student loan. I really thought they give those to just about anyone that is going to school.
Student loans are dischargeable under narrow circumstances - if the person is broke and destitute basically which she is claiming but she is a LIAR!!! She did not list her current jobs (2 part time and her own business) and is trying to seem destitute. It's okay, I will take care of that I hope she goes to jail for fraud on the court!!
I work for a BK firm and we have never had a case where the loans were discharged, even for destitute people. If the loan is owed to the school directly, then it's dishchargeable. Government..never. If the person was destitute, they couldn't afford the legal fees to file motions to even try.
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| Posted 9/2/07 9:33 PM |
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alnem
This is gonna be a good year!
Member since 2/06 9562 total posts
Name:
Emily
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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
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| Posted 9/2/07 10:01 PM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: would you or have you signed for someone with bad credit?
Posted by Summerrluvv
I work for a BK firm and we have never had a case where the loans were discharged, even for destitute people. If the loan is owed to the school directly, then it's dishchargeable. Government..never. If the person was destitute, they couldn't afford the legal fees to file motions to even try.
Unfortunately this scum is a lawyer so legal fees are not an issue. She paid the $299 filing fee and that was it. She is very familiar with the BK code. In fact, she was a BK lawyer in NY for years.
I doubt they will be fully discharged, if at all once I'm through with my filing  She has not fully disclosed her sources of income.
Either way, the loan that I cosigned is now solely in my name and no longer joint from the paperwork I received. A costly lesson on my part...but thankfully not one of her $25K, $94K or $157K loans I knew she went to a few schools and had various degrees but to see $400K+ in student loans on one credit report (and not a doctor) is like
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| Posted 9/3/07 12:14 AM |
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MrsT
Enjoying wedded bliss.....
Member since 4/06 1323 total posts
Name:
Katrina
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Re: would you or have you signed for someone with bad credit?
Posted by Summerrluvv
Posted by MrsT
I would for my dad but he would likely never need me to cosign.
I cosgined for a friend for a student loan and regret it. We were friends but have not been in a few years.
She just filed for bankruptcy and I only found out since I call Sallie Mae EVERY month to make sure she makes her payment. They are not coming after me for the money but I did contact her to let her know that once the payments start up again (student loans are NOT discharged in bankruptcy) that she will need to continue making her payments.
She studied bankruptcy law and even clerked for a bankruptcy judge I have no idea what she thought she might discharge by filing for bankruptcy other than a car she recently bought (her boss co-signed)
Maybe she has a lot of medical bills. BK isn't just for credit cards.
I have the filing and it's specifically to discharge her student loans - over $400K. The medical bills are minimal and appear to be dental bills.
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| Posted 9/3/07 12:21 AM |
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browneyedgirl
family is all that matters
Member since 6/06 6513 total posts
Name:
browneyes
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Re: would you or have you signed for someone with bad credit?
yes, for close family if it was something absolutely necessary for them to have. if my mom needed something, i would help her out in a heartbeat, assuming i could carry full weight of the loan if necessary
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| Posted 9/3/07 1:46 AM |
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