Have you ever cosign on a car or personal loan for anyone

@venshida (4836)
United States
September 22, 2007 7:23am CST
I obtain a car loan for someone very close to me now they are unemployed and I am stuck with the bill. This individual does not call me like before, and is still driving the car. They promise they are going to pay it back, but I doubt I am ever going to be repaid. This has cause me great financial strain and stress. They have 11 months more on the loan. The balance due is $1600.00. Have this ever happen to you? How did you resolve?
2 people like this
2 responses
twoey68
@twoey68 (13627)
• United States
27 Sep 07
I've never done this but I've had several ppl ask me if I will do it. I usually tell them I can't and they either find someone else or find another way. **AT PEACE WITHIN** ~~STAND STRONG IN YOUR BELIEFS~~
venshida
@venshida (4836)
• United States
1 Oct 07
You did the right thing, I really thought I was doing the right thing helping. I won't in the future so I guess it's a lesson learned.
1 person likes this
twoey68
@twoey68 (13627)
• United States
1 Nov 07
Thank you so much for Best Response!! I really enjoyed your discussion. **AT PEACE WITHIN** ~~STAND STRONG IN YOUR BELIEFS~~
secretbear
@secretbear (19448)
• Philippines
2 Oct 07
i have cosigned on a personal loan for a friend of mine and officemate and fortunately, i haven't experienced that. they always pay me on time since they know that i also need money. you should call them and explain the situation and remind them of their responsibilities. if they are not answering your calls, dont give up. continue calling them until they get tired of hearing the telephone ring and answer your call. LOL its not forcing them to pay, you're just reminding them of their financial responsibilities.