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valleycem · Apr 23, 2005, 10:22 AM

I'm not sure to do about this one so seeking some advice. My brother called me and asked if I would co sign on a loan for his girlfriend, who is buying a new horse. It is about $9,500. They have been going out for about a year now and have had some problems, but she is really nice, though I don't know her super well because I only see her maybe once a week/every two weeks. I just don't want to be responsible for anything if she wasn't able to pay. My brother would co sign for her but he doesn't have any credit. He said that he is filling out a joint loan with her, so that I would just be "vouching" for her, but he'd be responsible if anything happened. She is currently selling the horse she owns now and hopes to get about $9,500 for it and would use that to pay off the loan. I know what my parents would say, not to do it, because they are so hesitant about stuff like this. I don't really have a problem helping out but I have never done anything like this so I'm a bit unsure. Any advice?

rougha · Jul 30, 2005, 02:52 PM

I wouldn't do it... are you nuts?? Why would you put yourself in that situation?? I mean if you were doing it for your brother and his WIFE & you trust him enough then okay fine.. but his girlfriend!!
Just because she's a nice person doesn't mean she is responsible.
She must not have enough credit or she might have bad credit (don't mark my words) because she needs a co-signer but for a horse!! She should be stable enough to buy it without a co-siginer. What a bad choice...

IF YOU WANT MY ADVICE DON'T GET YOURSELF INTO THAT SITUATION!

People don't give a crap about other people's credit.
Think about that house you would one day want to purchase.
I hope you don't do it if you do just think of your credit report

SPEAKING FROM EXPERIENCE
Good luck/

fredg · Jul 31, 2005, 11:59 AM

Hi,
Co-Sign a loan for that much money?? She is really nice? Prisons are full of people who use to be "nice" at one time!
Sure, go ahead, if you have a lot of money in the first place, and don't mind not getting paid back.
Sure, if you're not going to miss that much money, do it.
Otherwise, don't even think about it again.
Best of luck,
fredg