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Need input OT

Posted by on Feb. 14, 2013 at 12:51 AM
  • 5 Replies

This is ot, but you ladies have your heads on pretty straight and I know I will get good tips :)   A good friend of mine has asked me tocosign a car loan.  I am not going to do it, but I am not sure how to approach telling her.  This is the first time I have ever been asked this.  I have okay credit, mainly because I was smart in college and didn't go nuts with credit cards, and DH and I have been careful with our loans/credit since.  It is not so good though that I can get a car loan without a co signer- my mother had to co sign our last two years ago.  My friend just lost her car in a car accident, thankfully she was just banged up but the car was totaled.  She recently married a man whose credit was bombed by a previous relationship, and she has her own debt issues.  I think it is too risky to co sign, even if I could, but I am not sure how to tell her without putting strain on our friendship :(

CafeMom Tickers
by on Feb. 14, 2013 at 12:51 AM
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Replies (1-5):
Precious333
by Group Mod-Julia on Feb. 14, 2013 at 1:48 AM
:( thata a tough one, especially since shes in a tough spot. Is there another way you can offer help in a way you are comfortable with?
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gdiamante
by Group Mod - Gina on Feb. 14, 2013 at 3:10 AM

SImply tell her you don't mix friendship and money. It too often leads to problems and you don't want to put that kind of pressure into your friendship.

jolou
by on Feb. 14, 2013 at 5:34 AM

We were asked something similar by my BIL a couple of years back. We said no, because we were about to refinance our house, and didn't want anything extra on our credit before we did that so we could get the best deal. That wasn't true, but it wasn't awkward either!

momonetime
by Member on Feb. 14, 2013 at 9:12 AM
This


Quoting gdiamante:

SImply tell her you don't mix friendship and money. It too often leads to problems and you don't want to put that kind of pressure into your friendship.


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IrishIz
by Silver Member on Feb. 14, 2013 at 9:17 AM
Simple...

Hey, I know you need a consigner but I'm afraid I just can't do that. I made a self promise that I wouldn't ever mix money with friends or family.
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