- Jun 17, 2019
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That's the thing... If you refuse to pay, you're as screwed as her. And if you pay that debt, she's as free as yourself. So the situation will last as much time as her dad can afford to stay out of the financial system (or until the financial system work its way to get daddy's assets to force him to pay). So the only main concern would be she being expelled from college for not paying her tuition, but I guess even that could be fought if the money never was in her pocket and it's all dad's fault.This is not correct... I can only speak from my own personal experience on this.
When my daughter was still in high school she had saved up a little over $500 for a used car to which I was going to match.
Put in looking at what we could get I just could not see my little girl driving around in a POS car.
So we got her a new car to which (against every ones advice) I Co-signed for.
about 3 years in and after she had moved out of the house, I get contacted that she was 90+ days behind in payments.
Which hit her credit score hard... I had 30 days to make it current before it would start hitting my credit score.
So no it does not effect both parties equally unless it keeps going unpaid.