Published: Thursday, Dec. 20 2012 3:00 p.m. MST
So they are upset because they co-signed a debt. The other signer passed away.
And now the very contract that they signed and agreed to, is still in force.Yeah, that's frustrating. But, YOU should consider that when
you're co-signing. Which is why most people wouldn't recommend doing
that.To get through school, I had to work 2-3 jobs and took a full
load of classes. If I could only afford 1 class, then I took the one class and
worked more hours and saved up to pay for the next semester. It took 5 years to
graduate. But, I did it debt free. What was really bad, is that I didn't
qualify for grants because I worked too many hours. Had I sat on my hands, then
the grants could have come and paid for some schooling.Oh well, we
all make choices and decisions and get to reap the consequences of those
The wife was angry because the bank expected her to pay an old loan that her
husband had taken out even thought he had died? I would have expected the same
thing. I thought that was one of the benefits or drawbacks of marriage. You
benfit from his past savigns and possibly are responsible for his current debts.
It is also an example of why people should come clean to each other on the debt
that they owe before they get married. So the wife got the life
insureance and her father in law got the sons loan bill. Seems a little unfair.
True, he cosigned but he did it as a favor to his son to help him secure the
loan. He expects to only pay when the son literally cant. Death qualifies but I
expect he would prefer to help his daughter in law with money after she has done
all that she can to pay off their obligations. I guess it is all how you look
at it. Still, I dont think she should be upset with the bank.
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