Sometimes you can't even trust your family members
By kingparker
@kingparker (9673)
United States
September 1, 2010 7:06pm CST
It might not happen to all of us here, but it might happen to a small number of people. A friend of mine stuck in this car loan because of his cousin, that is really bad situation. His cousin was begging him about he got no credit, and he desperately need a car to go to college, and he will work his way to pay for the loan. Out of sympathy, this sentimental friend of mine agree to apply for the loan in co -sign from a local bank. Guess what, for the first month, his cousin pay for the loan payment. But on the second month, he is like totally out of the picture. My friend has to keep up with this payment to keep up his credit score for a couple of months already. What is next then? He doesn't want to stuck with this loan, and he should talk to his cousin in person. I told him, if necessary, he should get his cousin's parents involve in this matter. Sometimes, you can't trust your family members too.
3 people like this
8 responses
@hardworkinggurl (37063)
• United States
2 Sep 10
If his cousins is an adult why should the parents now be involved. Seriously, when someone approaches any of us and says can you co-sign on a loan as their credit is ruined. What makes us believe they are going to value our credit.
Circumstances happen to all of us and we cannot guarantee anything let alone have to worry about someone us sticking us with a bad co-signed loan.
The only legal measures he has is to legally reprocess the car and try to sell it for what he can. He will then be stuck with a balance that he is going to have to sue his cousin in small claims court. Outside of ruining his credit your friend will hve to keep paying the car note until he settles with his cousin.
Yikes this is a really hard lesson to learn from the people we care about.
@kingparker (9673)
• United States
2 Sep 10
oh, especially family members. He has his own dilemma, but money is money. We have to honor our words, so does his cousin. If he still not paying for that car, I think my friend should taken it seriously and consider hiring a lawyer to get it done.
@ANTIQUELADY (36440)
• United States
2 Sep 10
This is a hard lesson to learn but i learned it a long time ago the hard way. U are better off to not get involved w/family where money is involved.
@cream97 (29086)
• United States
2 Sep 10
Hi, kingparker. That is why many people don't like co- signing and getting a loan with a person. If they don't pay their share, then the person that is helping them, will lose out. Their credit will be affected because they have assisted someone else. I think that if someone wants to get a loan with someone else, they should pay for what is it they have to pay as well. Leaving the person out whom has helped them is very wrong!
It is sad to get the cousin's parents involved, as this agreement was made between just two cousins.
I agree, sometimes you can't even trust your own family members to do right by you.
It is sad to get the cousin's parents involved, as this agreement was made between just two cousins. I agree, sometimes you can't even trust your own family members to do right by you. @klaudine (3650)
• Indonesia
2 Sep 10
Money is a sensitive topic. It is not so easy to deal with someone who's getting away with our money just like that, because I've been there before. I think this could be a sticky situation, but I believe the best is to be strict if it's about money.
Maybe it will be a little bit uneasy, and uncomfortable, but a written agreement should be made when it involves a lot of money. At least it can be a good evidence when the situation goes bad.
It's not that I don't trust my family, but everything can happen, and I just want to protect my money.
@sender621 (14893)
• United States
2 Sep 10
You have to be careful in who you have finacial dealing with. This even includes family members. They may see that it is all right to cheat or deceive you just because they are family. Being related to someone doesn't give them the right to betray your trust.
@mrssheryl827 (30)
• United States
2 Sep 10
Thats true you can't always trust family members. Sometimes its better to have trust in someone rather then a family member in my opnion reason I say this is because , family members take that advantage and feel like if your family it shouldnt matter how long it take to pay back. Maybe your friend shouldve looked deeper in the situation as if he has bad credit how do I trust him with my credit. you know? but thats just how I feel about the situation you stated. Best of luck to your friend, I hope for the best with him and his cousin.
@akn1961 (1034)
• India
2 Sep 10
my family is great family. and my family is totaly support and understand me. thanks your opinion...
@pinksplotch (268)
• Quezon City, Philippines
2 Sep 10
i think your friend really should talk to his cousin first, because after all he's still family. it may be good to make the other family members involved, like the parents. if they can't settle it in a good way then they could take it to court. it's really sad but money could indeed ruin relationships even families.
