Beneficial Loan Late NEED HELP
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Posted by Tim (24.26.137.167) on May 19, 2002 at 00:26:05:
This may be a long question so please bare with me: I have been out of work since last September 11th, 2001. I am part owner with a family member and we share the house. I am waiting for my unemployment extension and I am no longer getting money. I have let my bills go such as credit cards, water treatment system loan, and a vacuum cleaner loan. My cousin is barely able to make the house and car payments and keep the utilitys from being turned of. My cousin has a personal loan from Beneficial in the amount of $9000.00 and a furniture loan in the amount of $5000.00. Beneficial called my cousin today and told him if he does not pay his payments they will pass judgement against him and take it from his paycheck. My cousin has no assets and the house is one year old so there is no equity in the house either. Can Beneficial come after my cousin and try to take money from the checking account? Beneficial asked him if he still worked at his job and he told them YES and that is when they threatened him with putting a judgement against him. We are both on the checking account but he is a co-signer and I am the main person on the checking account. Again, can Benefical touch the checking account since the checking is not entirely his? My mother is also on my checking account in case something would happen to me. I had a bill collector call me about my vacuum cleaner loan and the collections person was very NASTY and he asked me what my education level is, such as if a went to college and got a degree. I told him it was none of his business and I also told him my house payment is first, then car payments, utilitys, ect.... I then hung up on him and it has been two weeks and I have heard nothing from him yet. The collection department called about my loan for my water treatment system and the loan for this is $4500.00 but they were nice to me. The lady told me she has been is my situation before and she knows what it is like. She then told me if I can not make the loan payment then only thing that will happen is I will get bugged for about 6 months but then they will do a charge off and put it on my credit report and I will end up with a free water treatment system. Thank you for any help you can give to me.
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