My mother (51F) called me (20M) today to ask me to cosign for a loan this morning because her credit got too low to get the loan herself. She told me it was to pay off her credit card (debt) bills, pay for a new car lease because her old one was about to end, and pay general bills. She told me that a representative from the bank would call me and I didn't answer that call. I told her I would call her back after I was done with classes (still haven't done that yet). She told me on the phone that they would "take the money directly out of her paycheck" for the loan. I tried to research how that works but I couldn't find anything at all.
The only credit I have is 6 months of consistently paying off a Discover card. I have no stable job besides a school work-study. My mother is working multiple jobs and has always had financial troubles but I really don't think a college student like me should cosign on a loan. She didn't even tell me how big the loan would be or how she would pay it off in the future. What do I do? I want to help her and it hurts to see her struggle but idk...
Submitted February 05, 2024 at 09:54PM by Wheresthebeans https://ift.tt/1QIclzr
