Dear Abby
DEAR ABBY: Eight years ago, my wife’s nephew needed a car. His parents had poor credit at that time. I took him to a car dealer, where he found a car, and I didn’t hesitate to cosign the loan. He paid the loan off on time.
I am now in financial difficulty, and one possibility for me would be to refinance my car loan. When I suggested the nephew could cosign for me, there was an instant and emphatic “NO!” from his parents. Abby, this nephew is an adult and can make his own financial decisions. I feel like I’ve been stabbed in the heart. Was I wrong to suggest that idea? – REFUSED IN PENNSYLVANIA DEAR REFUSED: Considering that you had cosigned on a car loan to help this nephew, I can understand why you thought he would return the favor. That your wife’s family stepped in and nixed it is peculiar. Since your nephew is now an adult, he should have been the one who told you he wasn’t comfortable cosigning with you. I don’t blame you for feeling hurt.
