 Is it bad to have a high credit limit? |
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 I need help or suggestions??? |
| I'm just starting my credit and I have nothing on my credit report, I mean 0, nothing, nada, what can i do to start building my credit, some finance companies and banks dont want to give me ... |
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 I am a authorized user of one of my mom's credit cards and? |
| I made this card so that I can get credit(had no credit) this was about 3 years ago. I recently pulled up a credit report and saw that my mom's credit card had about 50 percent balance of the ... |
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 I have a credit card question?...? |
| I have been trying to find a good card that will accept me. i dont have the best credit but isnt there some cards out there that i can apply for and actually get it?... |
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 Is it better to...? |
cancel your credit card accounts or keep them open.
Does this help your score more if you have open credit or canceled ... |
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 How do I get an car loan with bad credit? |
| I am trying to finance a car but on my credit I have a few charge offs and a judgement. I would like to find a loan from a fianance company rather than going to a buy here pay here place can anyone ... |
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 Convert a visa gift card? |
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 Using my dad's credit card? |
| I went to my college bookstore today to buy books and I was going to use my dad's credit card but they didn't allow me to. They told me I can come back tomorrow with his I.D...the thing is I... |
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 How to establish good credit? |
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 Fixing bad credit? |
| I am not looking for any "miracle cures", I am willing to pay what I owe. What I want to know is when I am negotiating with creditors, there is a certain WAY that they can clear the debt ... |
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 Which is the best credit card in the whole world??? |
Additional Details
Write the reason for ur answer and abt me i live in INDIA and frequently fly abroad..!!!!... |
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 My credit score? |
| My credit score is 574, I only had one credit card and was late on the payments a few months in a row but now i've totally payed it off and they revoked the credit so I don't have any. I ... |
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 Canadian Loan Group? |
| July 27, 2007. Has anybody gotten ahold of anybody in that office? I have been trying for three days to get in touch with them. I have had no luck. If you try them right at 9:00 am their ... |
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 Do you think credit card debt judgement consider a crime? |
| Will I be consider having a criminal record if I am slap with a credit card judgement by a law firm representing my credit card company? And if the balance is around $550. I have never ever been ... |
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 What do you think about getting a department store credit card? |
| I won;t get one, but i was just wondering. If you know more info on them then please tell me.... |
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Abigail B | Son refuses to pay father for his car loan.? |
My friend asked me for advice the other day and I wasn't sure what to tell him. His 21 yr old son bought a new car 6 months ago. His father had to co-sign the loan. The son agreed to make weekly payments to the father for the loan, insurance and taxes and the father took care of making sure they got paid on time. The son hasn't made any payments in 3 months and refuses do anything about it. He has a job but would rather spend his money partying. The title and registration for the car are in the son's name (with the bank listed as leinholder). The father would like to just stop paying the loan and let the bank repossess the car but he doesn't want his own credit ruined. Can he take possession of the car until the son pays his debt or sell it to pay off the loan? The son will not give up the car readily. The father wants to just take it and hide it then tell his son he can have it back when it's paid for. Can the son report the car as stolen? |
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Jasmine B
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Take the key,s until he pay,s
Also, a good site is...
http://www.surveyland.org/jump.php?link=auto
Good luck |
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Justin W
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Yes, he can report it as stolen. But when the police find that the other owner of the vehicle has taken it, the police will not be happy with the son.
They have a legal agreement. If the father doesn't want to follow legal actions, he can't be helped. And people should stop wasting time trying to.
If it was my name on the car, I'd be taking the battery and cutting the serpentine belt. Pretty sure the son won't know what to do. And I'm pretty sure he won't spend the money to get it fixed. |
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David B
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Being a co-signer does not mean you are a co-owner. Basically, a co-signer is someone who is guaranteeing to the lender that he/she will take over the loan in case the primary signer is unable to. Without co-signing, the lender would not have authorized the loan in the first place.
The father is financially responsible for the loan, but has no ownership over the vehicle. The son would have to refinance to remove the father from the loan, which seems to be highly unlikely.
The father is legally obligated, which is exactly what co-signing is. His only option would be to ruin his credit and let the car be re-possessed. The lienholder technically owns the car though, so perhaps he might be willing to convince someone there to have the ownership transferred to him. They certainly will not release him from his contract, but they might be willing to work something out. |
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Steve R
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All the father can do is take the keys from the son. If he stops paying, he ruins his own credit, which can set in motion higher rates on his credit cards. The insurance however should be in the son's name, therefore it's the son's responsibility to pay the insurance.
Or the father can demand payment for rent to live in the house that will cover the car payment. |
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oliprofessor
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financially speaking his son is a separate entity.
He'd be best off getting a summary court judgement approving him of taking sole ownership of the car based on the fact his son is no longer paying for it.
After that, he's naturally quite free to stash it away. |
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Walker
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Strange his name is not on the title for a loan he signed on. He may want good sound legal advice on this case to protect his own credit, because of the other negligent party and the family connection enflaming the problem. can understand why, but it is odd he did not think his son would stab him in the back, and he has. |
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tholeeder
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ruin your credit. let it go back to the bank this kid is an ingrate he made a deal and is falling back on it.never cosign a loan for anybody.the lesson you teach the kid will mean more than the damage to your credit.he will either pay for the car or lose it easy or hard as that.never let him forget he is a dead beat |
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8 mile!
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1st, the son is pathetic!!!! lol
yeh.....i'd say the same thing, tell him to ruin his credit and stop paying the rest, it dont really matter.......... If the father hides the car somewhere and then tell his son he can have it back when he paid off, the son can go to police and the father will be in trouble!!!!!!!
In that case, the father cannot make up any reasonable excuse and will be in more trouble!!!!
NEVER LET YOUR PERSONAL LIFE ENDS UP WITH POLICE!!!!!!
RUIN UR CREDIT!!!!!! |
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C.J.
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The problem the father has is that he allowed the title to be put in his son's name alone while both of their names are on the loan. Technically, the son owns the car and the father does not -- the father only has the obligation on the loan.
If I were the father, I would stop making payments, call the lender and tell them where they can find the car. Then I would never do anything for that kid again. Let him sink or swim on his own. What a jerk. |
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