about 4 years ago when I was with an ex boyfriend, (he had bad credit, i had good credit) I co signed for him to get some rims and tires on his car, also I was the first on an apartment that he signed a contract with. Well, once our relationship started to fall apart he moved out of the apartment before the contract was up and didn't pay the rest of the contract and stoped paying on his rims and tires... so now that I am married my husband and I are trying to buy a house but those two things are stopping me and I don't have the money just to pay for those... and I feel like I shouldn't have to. Is there a way to try to get those removed off of my credit and help bump up my credit score?
2007-02-27 09:43:57 · 8 answers · asked by Mommy2Two!! 4 in Business & Finance ➔ Credit
You may feel like you shouldn't have to, but the truth is, you do.
You made a contractual obligation to pay for his rims in the event he didn't (that's what co-signing means), and you made a contractual obligation to finish paying off the apartment.
Now you expect the bank to trust you to keep a contractual obligation to pay off a house when you won't keep your previous obligations?
What world is that gonna work in?
Your best bet is to contact a professional credit counsellor and see if you can negotiate a settlement with the people you owe (and yes, you owe them, regardless of your "feelings" on the subject).
I'm sorry if this sounds harsh, but the world of finance doesn't operate on good-will and warm feelings. It operates on contractual obligations.
2007-02-27 09:49:57 · answer #1 · answered by jbtascam 5 · 0⤊ 0⤋
Bad credit is one of the worst problems to have... however there exists a solution.
I will hereby talk from my personal experience.
I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,
if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,
a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :
http://umgarticles.atspace.com/debt-consolidation.htm
if it helps kindly remember me in your voting!.. cheers!
2007-02-28 00:57:58 · answer #2 · answered by gabriel jones 4 · 0⤊ 0⤋
You can't get them "removed", but you might try to settle the debts with the creditors. Unfortunately, a cosignor is just as liable as the primary borrower/renter. Settling will help your credit some & will demonstrate to the mortgage broker that you are serious about being a responsible person financially.
2007-02-27 09:50:24 · answer #3 · answered by Tom's Mom 4 · 0⤊ 0⤋
No..when you sign a loan contract..you become responsible for hat debt if the the signor doesn't pay. It was a d*ck move on his part, but I think your stuck with his bills..there may be some sort of civil action you can take, i'm not sure..but he doesn't sound like he has anything to take if you won
2007-02-27 09:55:19 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Is it only women who co-sign for their lovers? I've heard a LOT of horror stories about guys skipping out. Your best bet would be taking him to small claims court, but you may just have to pay it off. Sorry he screwed you over.
2007-02-27 09:47:25 · answer #5 · answered by Anonymous · 0⤊ 0⤋
You can try taking him to small claims court. If that doe's not work, you are liable for the debt. Never co-sign for anyone if you are not ready and able to pay the debt yourself.
2007-02-27 09:50:24 · answer #6 · answered by ? 7 · 0⤊ 0⤋
The only way I know of is either to file bankruptcy or just pay those two things off. I know how you feel, my ex is (and always has been) a bum. Good luck!
2007-02-27 09:48:22 · answer #7 · answered by whatever2006 4 · 0⤊ 0⤋
take him to small claims court
2007-02-27 09:47:11 · answer #8 · answered by kelly 4 · 0⤊ 0⤋