not sure what to do? - Tilted Forum Project Discussion Community

redneckdude · 02-05-2004, 06:10 AM

Here's the deal:

My stepson took out a loan with his grand mother as cosigner. After lying to everybody about his car payments so that he could take all the money he had to Mexico (where he is currently). So the bank calls grandmother up and starts asking her for the money.

Grandmother is now pissed and wants to repocess the car and sell it. My solution is to give him my camaro and take over his payments on the volkswagon GTi. I am a die hard chevy fan and not real big on imports, however the camaro is not in great shape, little rust, few dents, needs motor etc. etc.

I will probably find out today or tomorrow if this deal goes through. I'm kinda excited about getting this car, however a little trepedation because I love the roar of the V8.

Not sure if there is a question more just a chance to talk a little I guess.

Scoty

shakran · 02-05-2004, 06:29 AM

I don't get it. You're saying he lied to everyone, skipped the country to avoid paying off the loan, and you want to give him a car?

I'd help Grandma repossess the VW, then i'd let him walk.

MSD · 02-05-2004, 06:32 AM

It may not be possible to transfer the car to your name while he still has a loan out that he used to pay it. I think the first step is to talk to your stepson, tell him how much of a problem this is causing, and try to get him to work things out voluntarily.

After that, reposession is probably a good idea. The last thing you need is to get caught up in the situation and end up with credit agencies and debt collectors coming after you.

Another thing to consider, how old is he? I'm assuming that he's stil young and iresponsible (early to mid 20's, kind of like me.)

Unfortunately, there isn't one good way to deal with this. Good luck with whatever you decide to do.

Bill O'Rights · 02-05-2004, 06:41 AM

This doesn't happen often, so pay heed. I kinda agree with shakran on this one. Whether or not you want to take possesion of the VW or not is up to you. Keep it, sell it, whatever. Just get it away from your stepson. Give him your Camaro? The most I'd give 'im is a good pair of walkin' shoes.

What kinda kid screws over Grandma, anyway?

redneckdude · 02-05-2004, 07:04 AM

He's 18, and probably hasn't realized what he has done. He is vacationing now, and will be home tonight.

We aren't gonna change anything, I would make the payments he would get to keep patching together the camaro, guys remeber it's not much more than a beater.

His first option is to square things on his own. If not he will loose the car, either I will take it and pay for it or his GM will, bearing in mind this isn't hurting her financially, she would just pay the loan off and then sell the car.

We'll just have to see when he gets home tonight. I'll keep all posted

Scoty

02-05-2004, 06:10 AM	#1 (permalink)
redneckdude Upright Location: Arkansas	not sure what to do? Here's the deal: My stepson took out a loan with his grand mother as cosigner. After lying to everybody about his car payments so that he could take all the money he had to Mexico (where he is currently). So the bank calls grandmother up and starts asking her for the money. Grandmother is now pissed and wants to repocess the car and sell it. My solution is to give him my camaro and take over his payments on the volkswagon GTi. I am a die hard chevy fan and not real big on imports, however the camaro is not in great shape, little rust, few dents, needs motor etc. etc. I will probably find out today or tomorrow if this deal goes through. I'm kinda excited about getting this car, however a little trepedation because I love the roar of the V8. Not sure if there is a question more just a chance to talk a little I guess. Scoty __________________ Just think 6 feet above the ground is better than 6 feet below ground!

02-05-2004, 06:41 AM	#4 (permalink)
Bill O'Rights will always be an Alyson Hanniganite Location: In the dust of the archives	This doesn't happen often, so pay heed. I kinda agree with shakran on this one. Whether or not you want to take possesion of the VW or not is up to you. Keep it, sell it, whatever. Just get it away from your stepson. Give him your Camaro? The most I'd give 'im is a good pair of walkin' shoes. What kinda kid screws over Grandma, anyway? __________________ "I distrust those people who know so well what God wants them to do because I notice it always coincides with their own desires." - Susan B. Anthony "Hedonism with rules isn't hedonism at all, it's the Republican party." - JumpinJesus It is indisputable that true beauty lies within...but a nice rack sure doesn't hurt.

02-05-2004, 07:04 AM	#5 (permalink)
redneckdude Upright Location: Arkansas	He's 18, and probably hasn't realized what he has done. He is vacationing now, and will be home tonight. We aren't gonna change anything, I would make the payments he would get to keep patching together the camaro, guys remeber it's not much more than a beater. His first option is to square things on his own. If not he will loose the car, either I will take it and pay for it or his GM will, bearing in mind this isn't hurting her financially, she would just pay the loan off and then sell the car. We'll just have to see when he gets home tonight. I'll keep all posted Scoty __________________ Just think 6 feet above the ground is better than 6 feet below ground!

02-05-2004, 06:29 AM	#2 (permalink)
shakran Tone.	I don't get it. You're saying he lied to everyone, skipped the country to avoid paying off the loan, and you want to give him a car? I'd help Grandma repossess the VW, then i'd let him walk.

02-05-2004, 06:32 AM	#3 (permalink)
MSD The sky calls to us ... Super Moderator Location: CT	It may not be possible to transfer the car to your name while he still has a loan out that he used to pay it. I think the first step is to talk to your stepson, tell him how much of a problem this is causing, and try to get him to work things out voluntarily. After that, reposession is probably a good idea. The last thing you need is to get caught up in the situation and end up with credit agencies and debt collectors coming after you. Another thing to consider, how old is he? I'm assuming that he's stil young and iresponsible (early to mid 20's, kind of like me.) Unfortunately, there isn't one good way to deal with this. Good luck with whatever you decide to do.