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176

DON'T talk to the creditor. DON'T trash your other good credit. DON'T declare bankruptcy for a good while. The IRA is protected. Protect it. First and foremost, the IRA is untouchable in MD. Creditors cannot touch it. Bankruptcy cannot touch it. Abe must not touch it. The IRA is a sort of "trust account", and Abe, as a "trustee", must protect that from ...


20

Having the money up front mitigates most of the risk. The main lingering piece would be if, as a cosigner, you are on the hook for damages in excess of the deposit (on all leases I've used/seen a cosigner shares full obligation for all amounts owed). So if she trashed the place or ran a meth lab, you could be on the hook for damages/remediation in excess of ...


9

Does anyone know what the hell this guy is doing and what the hell he's talking about? The dealer wants to sell a car. That's his job, and he doesn't really care who he sells it to. He ran your details past the loan company and they said "no". He ran your grandpa's details past the credit company and they said "yes". So the dealer has ...


7

If I get a small claims attorney what are my chances of the judge issuing him a court order to refinance? If this is the United States then there are no attorneys in small claims court. It is also unlikely that the judge in small claims court would force a sale of a persons transportation. It could leave them unable to get to work. One option is to ...


6

If he bought the boat while you were married it is likely considered community property regardless of whether your name is on the title or loan. Tell your divorce attorney about it and the judge will have to make a call on equitable distribution of assets.


5

It's highly unlikely that a judge will force him to refinance the loan. You signed a contract that did not require you to be in a relationship with him, so nothing of significance has changed regarding the loan. Honestly, the loan shouldn't be hurting your credit. Only bad uses of credit are significantly harmful, so as long as there are no missed payments ...


5

And if I am even on the car at all if we both signed paper work? You probably are. Check the registration and check with the company that financed the car. Ask if you are considered a co-borrower. Is it possible for after a year for every thing to be in my name like this guy says Probably and maybe even sooner. If I was you, I would go to your bank, or ...


2

My rule: If you want to give them the money, and you can afford to give them the money, then give them the money. If you don’t want to give them the money, or cannot afford to, then don’t give them the money. NEVER co-sign for a loan. If you give your friend the cash, assume the money is gone. If you co-sign, assume the money is gone except there will be ...


2

My kids have asked me once or twice to cosign for something, and the answer is an absolute NO. Under no circumstances will I ever cosign for anyone. If you followed this site, there are plenty of questions from people who made the mistake of co-signing and suffering the consequences. Legally, there is no such thing as "co-signing". In reality, it means ...


1

Is the estate responsible for any remaining debt if the car sold for less than the balance on the loan? Yes, as well as the grandson (assuming he is the cosigner). My guess is the "deal" he tried to make with the bank was not satisfactory when they know they can more likely get the full amount from the estate. Or he is lying to you hoping to get ...


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