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Question:
I was ordered to pay off my ex-wife's car in the marital settlement agreement. It is apparently a lemon and the dealer is willing to "buy back" the car.
My ex is saying I'm responsible for the loan balance, i.e., she thinks I should have to buy her a new car if we sold her current one.
What do you think her chances are of holding me liable?
Financial adviser Dan Danford answers a personal finance question from a Money Made Easy viewer:
"My son wants to purchase a car and have me co-sign for it. I have an average credit score so I don't think I would be rejected as a co-signer, but will the fact that I am co-signing for my son affect my credit score in any way?"
Danford, MBA, CRSP, of Family Investment Center, explains while co-signing may not affect your credit score, it may affect your ability to get loans in the future.
Remember that loaning money or co-signing is a business transaction. Treat it as such.
Financial adviser Dan Danford answers this financial question in today's edition of Money Made Easy: Can you explain debt consolidation services and how they work? I'm leery of all these ads I'm seeing about debt relief because they sound too good to be true.
Danford, MBA, CRSP, of Family Investment Center, offers his financial advice on debt consolidation along with showing an easy to understand chart that shows why a consolidation loan may be right for you.
In this week's edition of Money Made Easy, host Dan Danford answers this financial question from a viewer: I bought a house a couple of months ago and it seems like every other week I get a letter saying my mortgage has been sold again. Can you explain why mortgages are constantly being sold?
Danford, MBA, CRSP of Family Investment Center, explains the financial reasoning behind buying and selling loans.
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