Life The official "Life's a Bitch" thread - Page 6

**luv** · 10:17 AM

Well, after dealing with getting over an ex and making sure he's paying joint bills, I decide to just focus on my job for awhile. I know it well, and I'm good at it. Should mean a little less stress while I get me and my life back into focus.

We had a meeting today, and the portion of the company that I'm a part of has been sold. Luckily, it will be in Springfield. Unluckily, there are only so many spots available at the new company. While I know that I will still have a job, I don't know what I'll be doing or if I'll have to take a subtantial paycut.

So much for less stress.

UPDATE: I just got offered a new position with the original company. I'll be able to stay where I'm at!! I'm now part of the technical support group. I'll be learning how to import and export data, etc. Kinda nervous, but so thankful for the opportunity.

Sure-Oz · 08-13-2008, 02:29 PM

As for co-signing a loan with a newer "bf" stupid....gf and i didnt talk about each others money expenses or deciding to do much together until almost 2 years. Save that shit for when you're married hehe...

**Bugeater** · 08-13-2008, 02:36 PM

Quote:

Originally Posted by little jacob

nobody should EVER cosign a loan for ANYONE. i would not cosign a loan for my best friend, my child, my parents, the old lady's parents, no one.

if they did not already have a long history of not being trustworthy in finance they wouldn't have to be asking for a cosigner.

if you cosign a loan, you should just assume that you're going to have to pay all of that balance off.

Eh, there's exceptions, it depends on the circumstances. For instance, shortly after my wife and I got married I impregnated her, and due to complications with the pregnancy we were left with a substantial amount of medical bills that insurance did not cover. This came after her being off work bed ridden for six months when we were minus her income, plus our health insurance premiums doubled during that time period. So naturally we started out in a deep hole, and we couldn't satisfy our debtors as quickly as they wished so our credit took a nasty hit right off the bat. Luckily for us we already had a home and decent vehicles so we were able get by without credit for many years, but if we had needed a loan for a car or something else we would've probably needed a cosigner, and it wouldn't have had anything to do with our lack of trustworthiness.

But yes, as a general rule it's a risky proposition, and no one should ever do it if paying off the loan themselves is going to cause financial hardship.

seclark · 08-13-2008, 02:37 PM

Quote:

Originally Posted by Sure-Oz

As for co-signing a loan with a newer "bf" stupid....gf and i didnt talk about each others money expenses or deciding to do much together until almost 2 years. Save that shit for when you're married hehe...

agreed...my post referred to little jacob saying no to any cosigned loans. i know for a fact i'd have never got a loan and started a good credit rating if someone(my father) wouldn't have cosigned for my first loan.
sec

FAX · 08-13-2008, 02:38 PM

It's a tough call, really. I've personally guaranteed several loans in the past - for a couple of employees and two friends. One person was flipping houses and the other guy had medical issues. I don't have a philosophical problem with it even though I once had to take up some slack for a buddy who fell behind. Sometimes people need a little assistance and, when I'm not insulting people for grins, I don't mind helping if the circumstances are right.

Having said that, I would have to know the person pretty damn well. It would be extremely uncomfortable, for example, to discuss co-signing a note for a girl I just started dating. I mean, if you decline, I'm pretty sure the relationship would be over. I can hear it now; "You don't trust me?". Oh, my God. Then, on the other hand, it could well turn out to be the most expensive sex you ever had. Those aren't particularly good options unless it's Gillian or Salma or somebody.

FAX

little jacob · 08-13-2008, 02:41 PM

i still wouldn't do it. if my daughter can't afford a new car she shouldn't be buying a new car. she should be buying a junker like i drove when i was 17 until she can afford something new. Or, I would be better off just giving her money to put toward a new car.

if you cosign a loan for someone else for a car for example, the lender will not tell you when the person pays every payment late, but your credit score will get lower every month from the late payments. even if you notice that, there is nothing you can do to make them sell the car, because you don't own it. you just agreed to pay for it.

the bank will not tell you before they repo a car but you will get a repossession on your credit, so forget about getting any loans yourself for 7 years or so. the bank will however come and make you pay the difference between the loan balance and the price they got for the car at auction. so after all these black marks on your credit, you will still have to pay the loan off anyway.

seclark · 08-13-2008, 02:49 PM

Quote:

Originally Posted by little jacob

i still wouldn't do it. if my daughter can't afford a new car she shouldn't be buying a new car. she should be buying a junker like i drove when i was 17 until she can afford something new.

if you cosign a loan for someone else for a car for example, the lender will not tell you when the person pays every payment late, but your credit score will get lower every month from the late payments. even if you notice that, there is nothing you can do to make them sell the car, because you don't own it. you just agreed to pay for it.

the bank will not tell you before they repo a car but you will get a repossession on your credit, so forget about getting any loans yourself for 7 years or so. the bank will however come and make you pay the difference between the loan balance and the price they got for the car at auction. so after all these black marks on your credit, you will still have to pay the loan off anyway.

that's cool...i understand.
what i'm saying is sometime in life, you're going to have to take out that first loan. and if you've never taken out a loan before, you're probably going to have to have a cosigner. if it's my kid, i'll go ahead and take the chance.
sec

Sure-Oz · 08-13-2008, 02:51 PM

Quote:

Originally Posted by seclark

that's cool...i understand.
what i'm saying is sometime in life, you're going to have to take out that first loan. and if you've never taken out a loan before, you're probably going to have to have a cosigner. if it's my kid, i'll go ahead and take the chance.
sec

My parents did that for my first car as well...they knew i wouldnt **** up

little jacob · 08-13-2008, 02:53 PM

Quote:

Originally Posted by seclark

that's cool...i understand.
what i'm saying is sometime in life, you're going to have to take out that first loan. and if you've never taken out a loan before, you're probably going to have to have a cosigner. if it's my kid, i'll go ahead and take the chance.
sec

well even quite a few years ago when I was working summer jobs you could make several thousand dollars in just one summer. that would buy a car today, not just back then. what is wrong with them working and saving money instead of teaching them to live on credit at the very max they can afford and more, right out of the financial womb?

**bogey** · 08-13-2008, 03:03 PM

Quote:

Originally Posted by little jacob

well even quite a few years ago when I was working summer jobs you could make several thousand dollars in just one summer. that would buy a car today, not just back then. what is wrong with them working and saving money instead of teaching them to live on credit at the very max they can afford and more, right out of the financial womb?

Everyone has different philosophies. When I was a young pup all I could afford were $500.00 clunker cars. I'd drive them till they stopped running. When I had finally had enough, and wanted a better car, my Dad co-signed for the loan. I had never had any debt so I didn't have a credit rating and I couldn't get a loan on my own name. To this day, I still have a lot of gratitude and respect for my Dad because he trusted me enough to help me out. When my daughter gets to the point that she needs my help, I will gladly do it. I think I'll get as much out of it as she will.

**luv** · 08-13-2008, 03:17 PM

Quote:

Originally Posted by GoBo

Just because someone makes what turns out to be the wrong choice doesn't necessarily mean it was a bad decision. No one knows what the future holds. Lord knows there's a few decisions I'd like have back, but at the time I made them I felt they were the right thing to do based on the information I had at the time.

No, it was a bad decision. I knew it even as I did it. I let myself fall too hard too fast. And I'm also more trusting than I need to be. People can tell you shit until they're blue in the face. Until you go out and make the stupid mistake for yourself, you just don't learn. I spent my whole life learning from my older brother's mistakes. Guess I just needed to make a few of my own.

**bogey** · 08-13-2008, 03:22 PM

Quote:

Originally Posted by luv

No, it was a bad decision. I knew it even as I did it. I let myself fall too hard too fast. And I'm also more trusting than I need to be. People can tell you shit until they're blue in the face. Until you go out and make the stupid mistake for yourself, you just don't learn. I spent my whole life learning from my older brother's mistakes. Guess I just needed to make a few of my own.

We all make mistakes. I once loaned my oldest brother $500.00. It took years to get that back. My wife never lets me forget it.

**luv** · 08-13-2008, 03:22 PM

Two rules my dad always hammered into my head.

1. Never co-sign.
2. Never borrow against your retirement.

Well, I guess he tried to hammer into my head.

He was the hardest person to tell this to. I knew what he would say before he said it. What surprised me was what he said after "you knew better". He said that most people learn lesson in love the hard way. Mine was just a little pricier. My dad's the best.

**luv** · 08-13-2008, 03:24 PM

Quote:

Originally Posted by bogey

We all make mistakes. I once loaned my oldest brother $500.00. It took years to get that back. My wife never lets me forget it.

My credit was good enough to get him $12K worth of loans and a vehicle. I also have a few I took out in just my name. Now, I'm back to where I was 10 years ago on my credit. Trust me, I will never forget. At least not for five years.

**bogey** · 08-13-2008, 03:27 PM

Quote:

Originally Posted by luv

My credit was good enough to get him $12K worth of loans and a vehicle. I also have a few I took out in just my name. Now, I'm back to where I was 10 years ago on my credit. Trust me, I will never forget. At least not for five years.

I not fully up to speed on the story. Is he not making the payments at all?

seclark · 08-13-2008, 03:28 PM

Quote:

Originally Posted by little jacob

well even quite a few years ago when I was working summer jobs you could make several thousand dollars in just one summer. that would buy a car today, not just back then. what is wrong with them working and saving money instead of teaching them to live on credit at the very max they can afford and more, right out of the financial womb?

nothing's wrong with that...but somewhere in life, chances are you're going to have to get a loan. you can write down everything you've paid for in cash on that loan app, but if you've never taken out and paid off a loan, the lender is probably going to want a cosigner.

i'm no expert on this, outside of the fact that i couldn't get my first loan without a cosigner.
sec

08-04-2008, 08:05 PM
luv You think you can get by this? Join Date: Dec 2004 Location: Springfield, MO Casino cash: $-1260000	The official "Life's a Bitch" thread Well, after dealing with getting over an ex and making sure he's paying joint bills, I decide to just focus on my job for awhile. I know it well, and I'm good at it. Should mean a little less stress while I get me and my life back into focus. We had a meeting today, and the portion of the company that I'm a part of has been sold. Luckily, it will be in Springfield. Unluckily, there are only so many spots available at the new company. While I know that I will still have a job, I don't know what I'll be doing or if I'll have to take a subtantial paycut. So much for less stress. UPDATE: I just got offered a new position with the original company. I'll be able to stay where I'm at!! I'm now part of the technical support group. I'll be learning how to import and export data, etc. Kinda nervous, but so thankful for the opportunity. Last edited by luv; 08-21-2008 at 10:17 AM..
Posts: 63,567

08-13-2008, 02:38 PM	#79
FAX testing ... 1, 2, 3 Join Date: Oct 2004 Location: Tennessee Casino cash: $6753759	It's a tough call, really. I've personally guaranteed several loans in the past - for a couple of employees and two friends. One person was flipping houses and the other guy had medical issues. I don't have a philosophical problem with it even though I once had to take up some slack for a buddy who fell behind. Sometimes people need a little assistance and, when I'm not insulting people for grins, I don't mind helping if the circumstances are right. Having said that, I would have to know the person pretty damn well. It would be extremely uncomfortable, for example, to discuss co-signing a note for a girl I just started dating. I mean, if you decline, I'm pretty sure the relationship would be over. I can hear it now; "You don't trust me?". Oh, my God. Then, on the other hand, it could well turn out to be the most expensive sex you ever had. Those aren't particularly good options unless it's Gillian or Salma or somebody. FAX
Posts: 44,492

08-13-2008, 02:41 PM	#80
little jacob Bitter Clinger Join Date: May 2008 Casino cash: $10004900	i still wouldn't do it. if my daughter can't afford a new car she shouldn't be buying a new car. she should be buying a junker like i drove when i was 17 until she can afford something new. Or, I would be better off just giving her money to put toward a new car. if you cosign a loan for someone else for a car for example, the lender will not tell you when the person pays every payment late, but your credit score will get lower every month from the late payments. even if you notice that, there is nothing you can do to make them sell the car, because you don't own it. you just agreed to pay for it. the bank will not tell you before they repo a car but you will get a repossession on your credit, so forget about getting any loans yourself for 7 years or so. the bank will however come and make you pay the difference between the loan balance and the price they got for the car at auction. so after all these black marks on your credit, you will still have to pay the loan off anyway. __________________ "...and it's not surprising then they (small town, ordinary American people) get bitter, they cling to guns or religion..." - Barack Obama Last edited by little jacob; 08-13-2008 at 02:48 PM..
Posts: 1,214

08-13-2008, 03:22 PM	#87
luv You think you can get by this? Join Date: Dec 2004 Location: Springfield, MO Casino cash: $-1260000	Two rules my dad always hammered into my head. 1. Never co-sign. 2. Never borrow against your retirement. Well, I guess he tried to hammer into my head. He was the hardest person to tell this to. I knew what he would say before he said it. What surprised me was what he said after "you knew better". He said that most people learn lesson in love the hard way. Mine was just a little pricier. My dad's the best.
Posts: 63,567