Should I Co-Sign
Date: Wed, 06/30/2010 - 09:57
Should I Co-Sign
My son is struggling finding a job after graduation. He has some part time things but loans are due and whats coming in is not enough to pay what is owed. He has been able to consolidate his Gov. loans and was looking into the same for the private ones. He wants me to co-sign for a loan with Wells Fargo. I want to help him out but very concerned about doing this. I am retired on a fixed income, still making house payments and will be for awhile. I would not be able to take on the added debt if something happens. Is there another route he could take? What should I do?
If you cannot afford the payments should he not be able to make
If you cannot afford the payments should he not be able to make them, dont do it.
I told him that I would love to help but not this way. We went o
I told him that I would love to help but not this way. We went over his loans and he called some of them to see about reducing the amounts. They all were willing to work with him except Chase. I told him to call them back and try again, if no luck with first person ask to talk to a supervisor. I also said that I would rather try and help him make the payments now instead of putting it on my credit. He understood and hopefully will be able to get a job in his field soon. Thanks, just needed some reassurance that I should not do this.
