| Metal Reviews https://metalreviews.com/phpBB/ |
|
| Mom Wants Dead Son's Loans Forgiven https://metalreviews.com/phpBB/viewtopic.php?f=11&t=26914 |
Page 1 of 2 |
| Author: | cry of the banshee [ Fri Nov 30, 2012 3:05 am ] |
| Post subject: | Mom Wants Dead Son's Loans Forgiven |
http://gma.yahoo.com/blogs/abc-blogs/mo ... tment.html What do you all think? Should the loan be forgiven? If so, and conversely if not, why? Quote: Jermaine Edwards went to college to study music production, and his mother, Ella, agreed to cosign his student loans to help him attend school
IMO, she is rightfully on the hook for repaying the loan due to the bolded section, emotional appeal notwithstanding. |
|
| Author: | traptunderice [ Fri Nov 30, 2012 3:33 am ] |
| Post subject: | |
Legally, she is obligated. Ethically, I think that the cost of education is exploitative and so the student loans the dude incurred were blatant gouging and so she shouldn't nearly have the amount of debt that she does have. Edit: Maybe I'll read the article. Given that the govt forgave the other loans, there should be some comparable statute in the private loans that would result in the same measures, or so you would think. Private loan companies are fucking sharks anyways. |
|
| Author: | noodles [ Fri Nov 30, 2012 4:17 am ] |
| Post subject: | |
I want to have a heart but she cosigned and that's basically what it means to cosign. I agree that education costs are exploitative and that private loan companies are sharks but idk if that's really relevant to this case in particular. |
|
| Author: | traptunderice [ Fri Nov 30, 2012 4:20 am ] |
| Post subject: | |
noodles wrote: I want to have a heart but hey she cosigned and that's basically what it means to cosign. I think the argument that she could make is that it seems as if she makes less post-death than before and so her finances aren't the same as when she agreed to take on the loan. Basically, that would just lead them to restructure the payment to suit what she can afford, but it takes a kidney or a firstborn to pull that off.
|
|
| Author: | Adveser [ Fri Nov 30, 2012 5:51 am ] |
| Post subject: | |
Here in the states a dead man's debts are forgiven. That's why you never cosign. |
|
| Author: | cry of the banshee [ Fri Nov 30, 2012 6:48 am ] |
| Post subject: | |
She may be able to get a forbearance of some sort. I wasn't aware that a dead mans debts are forgiven here... interesting and IMO the way it should be. |
|
| Author: | traptunderice [ Fri Nov 30, 2012 7:05 am ] |
| Post subject: | |
cry of the banshee wrote: I wasn't aware that a dead mans debts are forgiven here... interesting and IMO the way it should be. I don't think that's how it works. When my dad passed away, they sold everything off in order to break even on the mortgage and tractor loans. Those are obviously property loans, but what other debts are there? Credit cards are smaller loans for generic stuff. Why else would you have debt? College loans are for a service in the same way you might owe money to a doctor or dentist.
|
|
| Author: | Tehom [ Fri Nov 30, 2012 7:11 am ] |
| Post subject: | |
She signed the documents end of story. You are legally bound by contract to pay it off. |
|
| Author: | Adveser [ Fri Nov 30, 2012 7:43 am ] |
| Post subject: | |
traptunderice wrote: cry of the banshee wrote: I wasn't aware that a dead mans debts are forgiven here... interesting and IMO the way it should be. I don't think that's how it works. When my dad passed away, they sold everything off in order to break even on the mortgage and tractor loans. Those are obviously property loans, but what other debts are there? Credit cards are smaller loans for generic stuff. Why else would you have debt? College loans are for a service in the same way you might owe money to a doctor or dentist.college loans, credit card debt, anything that the borrow doesn't own a defacto lean on and can recoup in the event of nonpayment. Basically your car and house would have to be paid off, but not actual "debt." It said specifically when I signed my college loan paperwork that the entire agreement and owing of any money would cease in the event of my death. |
|
| Author: | RelentlessOblivion [ Fri Nov 30, 2012 8:38 am ] |
| Post subject: | |
she is legally bound to pay back the debt as a cosigner, forget about any ethical aspects, forget about any issue you have with explotation of students or private loan companies, these emotional pleas should not and must not be used to excuse a willing participant to a contract regardless of the circumstances surrounding them yeah I'm a heartless bastard when it comes to enforcement of the law and if she refuses to pay back this debt then she should be imprisoned |
|
| Author: | Cú Chulainn [ Fri Nov 30, 2012 3:07 pm ] |
| Post subject: | |
If banks and bloody car companies can get bailed out, why not a mother of a music student? |
|
| Author: | traptunderice [ Fri Nov 30, 2012 4:38 pm ] |
| Post subject: | |
Cú Chulainn wrote: If banks and bloody car companies can get bailed out, why not a mother of a music student? Bernanke takes to the streets in his underpants, "She's too fat to fail! She's too fat to fail!"
|
|
| Author: | noodles [ Fri Nov 30, 2012 6:38 pm ] |
| Post subject: | |
RelentlessOblivion wrote: she is legally bound to pay back the debt as a cosigner, forget about any ethical aspects
My problem with this reasoning is that the law should reflect ethics rather than superceding them. |
|
| Author: | cry of the banshee [ Fri Nov 30, 2012 7:10 pm ] |
| Post subject: | |
noodles wrote: RelentlessOblivion wrote: she is legally bound to pay back the debt as a cosigner, forget about any ethical aspects My problem with this reasoning is that the law should reflect ethics rather than superceding them. Which party is being unethical, though? The lender fulfilled their end of the deal, whilst the lendee is attempting to get out of fulfilling her end. |
|
| Author: | noodles [ Fri Nov 30, 2012 7:32 pm ] |
| Post subject: | |
That's the question that should decide things imo. I lean towards your reasoning (although I wouldn't be surprised if there's a good argument against it in cases of death.) |
|
| Author: | traptunderice [ Fri Nov 30, 2012 8:04 pm ] |
| Post subject: | |
cry of the banshee wrote: noodles wrote: RelentlessOblivion wrote: she is legally bound to pay back the debt as a cosigner, forget about any ethical aspects My problem with this reasoning is that the law should reflect ethics rather than superceding them. Which party is being unethical, though? The lender fulfilled their end of the deal, whilst the lendee is attempting to get out of fulfilling her end. |
|
| Author: | Goat [ Fri Nov 30, 2012 8:24 pm ] |
| Post subject: | |
Yeah, she signed, she pays. Contracts can be unfair and hateful, I've signed a few myself that I've regretted. BUT just how much of a coup in public relations for this company would it be if it *did* forgive them? If I was a bastard I'd suggest it just for the new business that you can then not forgive... |
|
| Author: | cry of the banshee [ Fri Nov 30, 2012 11:21 pm ] |
| Post subject: | |
Goat wrote: Yeah, she signed, she pays. Contracts can be unfair and hateful, I've signed a few myself that I've regretted.
BUT just how much of a coup in public relations for this company would it be if it *did* forgive them? If I was a bastard I'd suggest it just for the new business that you can then not forgive... Student loans are pretty easy to forebear, though that usually means that the interrest continues to be accrued. The sooner it is paid off the better generally. I've paid off one, and am currently working on paying off a second one . Don't wanna be a dick or anything, but her using her son's death to get out of her financial obligations doesn't seem right. |
|
| Author: | MetalStorm [ Sat Dec 01, 2012 2:13 am ] |
| Post subject: | |
She accepted the responsibility and the consequences when she co-signed the loan so she should be on the hook for it. I'm sure she knew if something happened to her son she would be 100% responsible for the debt and if she didn't than she wasn't too smart when she co-signed. And as V said if she's using the death of her son for sympathy and an excuse not to take responsibility than she's a lowlife plain and simple. |
|
| Author: | RelentlessOblivion [ Sat Dec 01, 2012 6:56 am ] |
| Post subject: | |
I don't give a crap that her son is dead to be honest she's made a commitment under contract to pay this debt as a co-signer, she has no legal ground to have this debt waved and ethically she is also obliged to pay this money back given that she understood what would happen if something were to happen to her son |
|
| Page 1 of 2 | All times are UTC + 1 hour |
| Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group http://www.phpbb.com/ |
|