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simpletruth



Joined: 29 Sep 2009
simpletruth's page
Posts: 34



13 Magic Points

Subject: Co Signing
 
Posted on Tue Dec 08, 2009 4:47 pm  

I co signed for my daughter and my newphew, two different deals, they have both stopped making payments.

With my daughter they repoed the car, the car was a lemon, and it was junk from the beginning.

With my nephew, he had his bail revoked and was put back in prison, therefore can not work and not able to make the payments.

I have these creditors calling me and I think this is what is going on with my other creditors dropping my credit limit.

Any advice would be appreciated.
goodnatured



Joined: 03 Nov 2007
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Posts: 3931



593 Magic Points

 
Posted on Tue Dec 08, 2009 5:51 pm  

I think that once you sign on the dotted line you are held responsible for when the others can not make the payment regardless of the reason.

Have you talked to the lenders when they call and explain the situation to them? Bottom line is that you will be held responsible and it will affect your credit.

You are right, this is probably the reason for your other creditors dropping your limits down, they are probably leary of your situation.

goodluck, hope you get this straightened out soon.
simpletruth



Joined: 29 Sep 2009
simpletruth's page
Posts: 34



13 Magic Points

 
Posted on Tue Dec 08, 2009 6:19 pm  

Still as long as i have had these other creditors, some as long as 20+ years, you would think that I have established myself as a reliable person. I did explain to them the exact nature of my dilemma, but it seems as if it fell on deaf hears. They should take the time to review each case separately. I know that some people hand out hard luck stories to get out of paying what they owe, but if I'm making all my payments in the usual manner, wouldn't it make sense to give me the benefit of the doubt.
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3931



593 Magic Points

 
Posted on Tue Dec 08, 2009 6:24 pm  

It must be very frustrating, but what ever you do I would not close these accounts, it will be very hard to open new accounts once this stuff is on your report.

Is your daughter doing anything to rectify the situation? Has she made any attempt to pay this debt. Piece of Junk or not, it is still her debt that is hurting you.

She should man up and try to take care of this so that you can move on. Have you brought it up to her? If not, maybe you should.
simpletruth



Joined: 29 Sep 2009
simpletruth's page
Posts: 34



13 Magic Points

 
Posted on Tue Dec 08, 2009 6:33 pm  

Well I did bring it up to her, she has even been hinting around for me to buy her another car, as if, I told her I couldn't sign for the tires for on another car. She doesn't make much money and has a teenage daughter she is raising by herself. I suppose I haven't been too pushy on the subject because I know how hard it was for her to make the payments,keep insurance on it and pay for repairs when it was running. Also the car was a lemon and I probably wouldn;t want to make payments on a dead horse.
goodnatured



Joined: 03 Nov 2007
goodnatured's page
Posts: 3931



593 Magic Points

 
Posted on Tue Dec 08, 2009 6:37 pm  

Yes, but the bill being out there is affecting both of you. Is she serious, will you go sign for another? I would flip if she put me through this and then asked again.

Single mother or not, she needs to take care of this so that you can both move on.
fireyone



Joined: 26 Feb 2008
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Posts: 4246



134 Magic Points

 
Posted on Wed Dec 09, 2009 2:23 am  

I would have had your daughter file a complaint on the lemon. I am not sure if in all states this is true but I was told by tripple a that if a car is taken in for repairs three times with in purchasing it (probaly in so many months) it is considered a lemon and they have to let you keep the vehicle without paying. I would check this part out.
On the part of your credit limits dropping I wonder if this is not part of the economic downturn. I would think i f they were going to penalize you they would have upped your interest rate.
Justin

Justin

Joined: 17 Jul 2006
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28944 Magic Points

 
Posted on Wed Dec 09, 2009 5:04 am  

Hi Simpletruth,

In case of cosigning, the cosigner has to pay the debt if the primary debt holder defaults. However, in your case, it is a little different with the lemon car. Firey is right. The lemon car law can protect you and there is every chance that your loan gets canceled and you might even get refunded. However, lemon laws are different for different states. Which state do you belong to? Please keep the evidences of how many times your car has gone for repair. This will help you to prove that your car was lemon.

First you should contact the dealer, followed by the car manufacturer's arbitration department. If you think that they are not treating you fairly, then you can also seek help from the state attorney general.

Regarding your nephew's debt, I think you have to pay that debt since you are a cosigner.
_________________
All the Best Smile
Justin
simpletruth



Joined: 29 Sep 2009
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Posts: 34



13 Magic Points

 
Posted on Wed Dec 09, 2009 4:34 pm  

Thank you Justin and fiery I appreciae your input. I tried to find information on the Lemon laws for Pennsylvania but it seems everything I found was only concerning new vehicles. Her car was a used vehicle, 2001, and she had to have it towed 3 times in the first 2 months she owned it. The dealer she bought it from gave her a 6 month warranty on it, however they required her to take it to a garage of their choice. I believe they doctored it up until the 6 months were up. When she finally called a garage of her choice it was too late, the motor was blown.
goodnatured



Joined: 03 Nov 2007
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Posts: 3931



593 Magic Points

 
Posted on Wed Dec 09, 2009 4:59 pm  

Hey fireyone and Justin, do you know the lemon law for Pennsylvania, is there anymore advice that you can give to simpletruth here, wouldn't it be great to help her out of this mess and to help her daughter at the same time.

Does lemon law apply to used vehicles as well?
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1883



1916 Magic Points

Subject: co-signing
 
Posted on Thu Dec 10, 2009 6:52 pm  

SIMPLETRUTH.........I know you love your family and are willing to do what you can to help. ANY (decent) family member would feel that way. But,..now, you may have to use some 'tough love'. After this entire ordeal, how can your daughter have the guts to hint around for you to buy her a new car?! GOSH....I'm not trying to put anyone down. ..I'm just stating the facts you are telling 'us'. And, yes,..the 'Lemon Law' sounds like a good idea to persue.
simpletruth



Joined: 29 Sep 2009
simpletruth's page
Posts: 34



13 Magic Points

 
Posted on Fri Dec 11, 2009 12:25 am  

Thank you sdchargers. Do you or anyone in the forum know--if a judgement was already entered, can I still try to use the lemon law and dispute this. How long do I have to dispute. We do have all of her tow bills and her repair bills done by the garage she called to repair it. As a matter of fact the garage she took it to bought it from the lender for $500 and the judgement is for almost $6000. Nothing was knocked off the balance she owed.
sdchargers_63

sdchargers_63

Joined: 13 Aug 2007
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Posts: 1883



1916 Magic Points

Subject: co-signing
 
Posted on Fri Dec 11, 2009 12:30 am  

No, I;m sorry..I don't know, SIMPLE. Gosh.....what a situation to be in. What about the situation with your Nephew? Can you (maybe?) get some kind of Legal Counsel and take care of it that way? I understand your Nephew can't pay anything right now. But, maybe there is a way that YOU don't have to be responsible for HIS debt. I'm just trying to give you ideas.
Guest







 
Posted on Fri Dec 11, 2009 3:08 am  

Thank You sdcharger. I will continue to try and find a way to get this mess cleard up. I'm starting to think I'll just have to ride it out and let the chips fall where they may. My nephew says he will straighten his mess up when he is released but with the state of the economy his chances of getting a job are probably slimmer than most.
Justin

Justin

Joined: 17 Jul 2006
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Posts: 1238



28944 Magic Points

 
Posted on Fri Dec 11, 2009 6:46 am  

Hi Simple,

Unfortunately, in Pennsylvania the Lemon Law applies to new cars only. The car of your daughter is too old to seek help through Lemon Law. Since it applies for new cars only, you cannot dispute anything on this basis. I am afraid you do not have much to do other than paying the money or the car will be sold at an auction. If the creditor can get the entire debt amount by auctioning it, then you can rest, otherwise you might have to fill the amount which is falling short. However, this would reflect a negative remark in your and your daughter's credit reports.
_________________
All the Best Smile
Justin

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