iluvwilmy: blog 
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im a ghetto friend
Published Jul. 14, 2008
FRIENDS: Use credit cards to buy things.
SOUTHERN FRIENDS: Pay cash for everything.
GHETTO FRIENDS: Have to get they mama to co-sign because they got bad credit.
How embarrassing! Due to my absolute stupidity when I was 18, I ran up a bunch of credit cards. I am slowly but surely paying them off now, but since I have "slow" credit, I can't get anyone to finance me without a HUGE down payment and a disgusting finance rate!!!! My mom is going to have to co-sign for me (also embarrassing) so I should know something about getting a new car soon...Thanks for you prayers and thanks for checking on me my friends!!!
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GOLO member since May 2, 2008
July 14, 2008 7:36 p.m.
My dad has cosigned 2 car loans for me. First one was because I was very young and had NO credit yet. 2nd was because I was in school and had a meager part-time job.
He never had to pay for them. I paid for them myself. Although... when my son was born, it offered to pay a couple months of payments since I was home with him and not getting paid. But that was a gift he didn't need to give, as I could've managed them if I had to.
My ex-husband's mom financed a car for us when we got married. I wasn't working (full-time undergrad student) and he was working, but she wanted him to cut back to part-time (he was also in school). He had never had any sort of credit in his name (he was 22 when we got married) and his mom was helping him build his credit.
She wound up paying for the car, but it wasn't because we wouldn't... she's just like that. Tons of money, and eager to spend it. ;)
GOLO member since December 4, 2007
July 14, 2008 10:40 a.m.
GOLO member since December 4, 2007
July 14, 2008 10:37 a.m.
GOLO member since April 24, 2008
July 14, 2008 10:16 a.m.
GOLO member since July 2, 2007
July 14, 2008 10:11 a.m.
YES!! you are smart
GOLO member since August 2, 2007
July 14, 2008 10:11 a.m.
GOLO member since April 24, 2008
July 14, 2008 10:08 a.m.
GOLO member since December 30, 2007
July 14, 2008 10:06 a.m.
GOLO member since April 24, 2008
July 14, 2008 10:03 a.m.
"3/4's of all co signers end up paying the loan....bad business" Yep, I agree. I hate that my mom even feels like she has to do this for me. I would rather have it this way than to follow my current pattern of having old cars that I have to keep pouring $$$ into to keep running...Having a car payment on a car with a warranty I feel is better. Once I have been making payments on the car, I will probably refinance in my name to get mom's name off the loan...
GOLO member since April 24, 2008
July 14, 2008 10:02 a.m.
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