Cosigned college loan
Way back when, before dh's rose colored glasses came off ( not fully still), he cosigned one of his oldest daughter 's student loan of 5 k. Fast forward, he paid over 50 k cash for her to fail every semester with no degree to show for it. Her mother never paid her share, but cosigned a huge amount. So this girl owes 80 k in loans, all coming due now.....she put them off for years. Dh has no relationship with her, but as the loan first payment due Monday, he called her last weekend. Got a text saying she would call......never did.....he called her last night....no response.
She is now 26, works, and lives on her own. I can't believe she would default on her loans. Honestly, the repercussions to her would be great. However dh worries that maybe she would purposefully not pay on time just to get back at him? Again, I believe she will pay. Does anyone know about being late on payments or defaulting?
What nerve of your SD? She
What nerve of your SD? She is a lawyer and expects her father to pay the 2k loan after all he did?
I think so many of us have failed to make our kids responsible and appreciative. I even have this problem with my own kids at times. Is it this generation of immediate gratification with all the electronics? I don't know....
He told me this morning he
He told me this morning he saw she had called back last night but he missed her call. He will call her back. I am sure she will be her cold superficial self. What kind of phone call can you have with someone you really have not seen or spoke with in 6 or 7 years?
He plans on trying a relationship with both of them.....he called the younger one also this week. No surprise she called him right back and chatted on about herself for half hour. However, dh realizes he will always be a distant....VERY distant second to her mother, and if she feels the least bit slighted by him, it is adios for good.
So, he plans on calling them on thanksgiving and Xmas, and the rest is up to them, if they want more than they need to stick their necks out and contact him.
He is going to start the emancipation process for the younger one who graduates college in May...likely in December. That will be very telling as to how she views him. We shall see.....
I don't think she is going to
I don't think she is going to trash her credit to get back at him. That would end up biting her and her mother in the ass because if she defaults on one private loan, they might demand repayment on others? Is that possible?
Aswag you have a valid point,
Aswag you have a valid point, but SD and her mother are survivors and master manipulators. Her mother has attained success and they are thick as thieves so I do not think she will jeopardize that. The daughters are fearful of their mother, who has ruled with an iron fist and they in turn worship her and have nothing but disdain for their father. Maybe if he had kicked her ass to the curb years ago and stood up to her he might have had a chance, but they grew up seeing their mother as the power broker in the family.
It was our experience with
It was our experience with youngest sd that after paying on time for a certain number of months consistently, it would come off our credit report...(We co-signed for 50k once) ...big mistake....years later when my dh and I went to refinance our home, the money was partially still on our credit report...she never told us she was late on a payment..(which then keeps it on your credit report)...and the result was, that it prevented us from being able to capture a lower interest rate on our house mortgage....(which would have saved us a lot of money)..When confronted, she got defensive, told us we should have better control over our finances, and said she was going to use the money to buy furniture for her new home....Well, it got ugly and destroyed the relationship. We no longer speak..She was not thankful we helped her (even though she confessed if it wasn't for us co signing she never would have made it through medical school because no one else would)....
No thank you...no consideration...nothing...She got offended at us because we asked her to get the remainder of the loan off from our account...Unbelievable...Haven't talked to her in two years...I will never co sign or allow my dh to co-sign again for any of them....
We also co-signed for the eldest sd, to buy a car...disaster....never again....