(Closed) Is the worst case scenario of co-signing always as bad as it sounds?

posted 3 years ago in The Lounge
Post # 2
45638 posts
Honey Beekeeper
  • Wedding: November 1999

tmsing:  If he co-signed on the account and BIL doesn’t pay, H is responsible no matter what the size of the bill.

Post # 3
3683 posts
Sugar bee
  • Wedding: December 2011

Yes, the cell phone company will go after your husband if your BIL doesn’t pay the bill.  That’s what co-signing is — a guarantee from your husband that he will pay the bill himself if your BIL doesn’t.  If the bill doesn’t get paid, both of their credit will be screwed up.

  • This reply was modified 3 years, 2 months ago by  strawbabies.
Post # 4
7982 posts
Bumble Beekeeper
  • Wedding: August 2012

Yes your husband is responsible if your BIL doesn’t pay the bill.

Post # 5
994 posts
Busy bee
  • Wedding: June 2013

I’ve never heard of cosigning on a cell phone contract. Maybe that should have been a clue that he couldn’t afford it? And what on earth did your H think would happen if BIL didn’t pay? Sound like they both could use some financial education. 

Post # 6
5889 posts
Bee Keeper
  • Wedding: October 2010

tmsing:  “Co-signing means you are responsible for what he doesnt pay. It’s not me saying it. And you can dispute me all you want, but it’s the truth–go online and look it up. I understand you have a difficult and complicated relationship with your family. I know you want to be helpful and gain their (repect, admiration, love). That you want to be helpful is a wonderful quality and one that made me fall in love with you. However, you have a new growing family. Your responsibility should be towards me and the baby. The risk to us is too high. How would you feel if BIL doesnt pay and that means we have to take something away from baby to pay HIS bill? I am pregnant and hormonal and turning into mama-bear. The fact that BIL might hurt my baby is very scary for me. I need you to help create a safe, secure environment for us.”

The topic ‘Is the worst case scenario of co-signing always as bad as it sounds?’ is closed to new replies.

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