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Would You CoSign A Loan For A Family Member Who Isnt Great WIth Money · The Erica Show

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  Get five. It's Erica DeLong, right. So usually we have relationship dilemmas,
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  but today it's a financial dilemma. So if you have advice on money
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  money with family members want to hear from you. Hey, Erica, Since
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  you always do relationship drama, I figured i'd throw this in the mix.
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  I have a family dilemma. My sibling has not made the best choices financially
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  over the years. They are now trying to get back on their feet.
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  They need my help to co sign a loan for a car because their credit's
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  not good. They need some money to co sign. I am financially secure,
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  I have good credit, but I do not want this hanging over my
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  head. My family member is going to be very upset because we are close
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  if I choose to tell them no. But I don't want to be responsible
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  should something happen. How can I handle this and not burn any bridges with
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  my family member? All right, that's a tough one. So what would
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  you do in this situation? Would you co sign for the loan? And
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  if you say no, how would you handle it? So that family member,
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  who probably desperately needs your help, would and get upset? Nine one
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  nine eight six soh one oh five to one do you and I five?
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  It's Erica DeLong. Would you sign for a family member's car loan or some
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  kind of loan? Would you co sign? Got a listener's financial dilemma where
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  a family member has asked her to co sign for a car loan. She
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  was like, I love this family member, I'm close with them, we
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  get along great, but they haven't made the best financial decisions, and so
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  now they're asking for me to co sign a car loan. I don't feel
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  comfortable with that. What do I say without upsetting somebody that I care for
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  deeply? Nine one nine eight six to so one O five one? What
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  are your thoughts on that, Jennifer? What do you say? You know?
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  I would love to say yes, but it's also really important to learn
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  navigating the world on your own and being prepared for these kinds of things.
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  Now, if there's like a life situation that's completely different, right, like
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  something that was undetermined, thank you. Jennifer has a loved one, a
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  close family member, close friend came to you and said, hey, will
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  you co sign a loan for me? But you didn't feel comfortable? How
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  did you handle it? Nine one nine eight six sel one oh five to
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  one G one o five. What would you do? I had a sibling
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  that asked for this and I did it, and then I ended up having
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  to repossess it from her because she wasn't making the payments. Oh my god.
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  And that's horrible. That makes more drama in the family. Yeah,
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  it made it a lot worse. So I my belief is people should be
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  able to borrow enough money on their own and shouldn't need help. So the
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  banks kind of make the decisions, not us. Okay, all right,
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  so you say no, tell her absolutely no, and if they get mad,
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  it is what it is. It is what it is. But I
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  mean, you should separate family and money. It really made a big and
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  that's why I called it and I have never called it in but it just
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  it really put a big strain on our relationship. Wait, what's your name?
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  Where are you calling us from? I'm calling from Raleigh. Okay,
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  what's your name? I played the country? Oh well that's cool. Well,
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  thank you so much for being a first time color. You can reach
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  out anytime. Yeah, tell them not to please, got it.