Life The official "Life's a Bitch" thread

**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, 03:24 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?

**luv** · 08-13-2008, 03:52 PM

Quote:

Originally Posted by bogey

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

He said he's making last month's along with this month's. He's technically defaulted on last month's payment. I could have them repossess it now, and get a head start on rebuilding my credit. However, he owes me other money besides making the car payment, and it's the only way he has to get to work. Otherwise, I'd have the car sold or repo'ed.

MOhillbilly · 08-13-2008, 03:54 PM

Quote:

Originally Posted by luv

He said he's making last month's along with this month's. He's technically defaulted on last month's payment. I could have them repossess it now, and get a head start on rebuilding my credit. However, he owes me other money besides making the car payment, and it's the only way he has to get to work. Otherwise, I'd have the car sold or repo'ed.

for a small fee i know someone who will get him in the black w/ intrest.

**luv** · 08-13-2008, 03:56 PM

Quote:

Originally Posted by MOhillbilly

for a small fee i know someone who will get him in the black w/ intrest.

If he dies, the car gets paid off.

Of course, the same goes for me.

little jacob · 08-13-2008, 03:33 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 believe it's 7 years actually.

**luv** · 08-13-2008, 03:39 PM

Quote:

Originally Posted by little jacob

i believe it's 7 years actually.

I meant that it will take five years to get paid off. Sucks being tied to someone you wish you'd never met.

little jacob · 08-13-2008, 03:44 PM

Quote:

Originally Posted by luv

I meant that it will take five years to get paid off. Sucks being tied to someone you wish you'd never met.

is it a car? why don't you apply some pressure for him to refinance or sell the car and buy a cheaper one he can get a loan for?

you still have a severe amount of exposure... since his credit is already crap it won't hurt him to stop paying tomorrow. that's why reputable lenders won't loan him money to begin with. people can end up in bankruptcy because of this stuff. there may be a bad credit lender who will loan him enough for a beater which it sounds like is all he should be buying.

you can't legally make him do anything with all the stuff he bought because he owns it but i would be trying to get him to take your neck off the chopping block any way possible

**luv** · 08-13-2008, 03:55 PM

Quote:

Originally Posted by little jacob

is it a car? why don't you apply some pressure for him to refinance or sell the car and buy a cheaper one he can get a loan for?

you still have a severe amount of exposure... since his credit is already crap it won't hurt him to stop paying tomorrow. that's why reputable lenders won't loan him money to begin with. people can end up in bankruptcy because of this stuff. there may be a bad credit lender who will loan him enough for a beater which it sounds like is all he should be buying.

you can't legally make him do anything with all the stuff he bought because he owns it but i would be trying to get him to take your neck off the chopping block any way possible

I told him that, if he didn't make the payments, I'd find out what I needed to do to get the car sold. Basically, if he defaults on another payment, I'd have them repossess it or find a way to sell it even against his will. Both of our names are on the title, but mine's listed first. Don't know if that means I have any special rights, but I'll be finding out. I think it was enough to scare him. He started asking me how he was supposed to get to work. I told him he wouldn't have to worry as long as he made the payments.

Sure-Oz · 08-13-2008, 03:56 PM

Quote:

Originally Posted by luv

I told him that, if he didn't make the payments, I'd find out what I needed to do to get the car sold. Basically, if he defaults on another payment, I'd have them repossess it or find a way to sell it even against his will. Both of our names are on the title, but mine's listed first. Don't know if that means I have any special rights, but I'll be finding out. I think it was enough to scare him. He started asking me how he was supposed to get to work. I told him he wouldn't have to worry as long as he made the payments.

Sounds like a real winner....with tons of excuses and won't amount to shit...tell him to ride a bike, car pool etc

**Bearcat** · 08-13-2008, 04:35 PM

Quote:

Originally Posted by luv

I told him that, if he didn't make the payments, I'd find out what I needed to do to get the car sold. Basically, if he defaults on another payment, I'd have them repossess it or find a way to sell it even against his will. Both of our names are on the title, but mine's listed first. Don't know if that means I have any special rights, but I'll be finding out. I think it was enough to scare him. He started asking me how he was supposed to get to work. I told him he wouldn't have to worry as long as he made the payments.

Don't even let it default. Give him a date, if it's the due date or the day before it's considered late... and tell him you will get it repossessed if it's not paid each month by that date.

I know you're trying to get other money back, too, but it sounds like eventually you'll have to cut your losses.