hard lesson to learn

Posted by catballlou (198.68.208.169) on January 19, 2004 at 14:42:38:

In Reply to: Co signed on auto loan that defaulted posted by Kevin on January 19, 2004 at 11:19:19:

one hard lesson. never co sign for anything. i wont even for my kids. when he told u that..u should have re-poed the car frm him. what u can do now i have no idea. u r legally responsible..thats what co signing means. it means someone hasnt ebuff credit alone and needs another person to guarantee the loan will be paid. i see more people who have joint checking..co sign or loan money..and then get screwed. im sorry they did this to u. rule one..when he told u that..go get the car! its half urs. i know i learn things the hard way too lol. sure not judging u for this! my ex hb taught me the co sign rule lol. never sign for something u cant pay should u need to. im sure others here will help u with what u can do now..but im sure someone will come after u. anyone is liable for the diff when a item is repoed and sold at auction..one is always liable for the remaining balance owed. im sorry this happened to u...

Follow Ups:

Post a Followup