Comments on: Making A Complaint

By: Canadian Personal Finance Blog » Blog Archive » Random Thoughts: Flip, Flop and Flu

Fri, 06 Nov 2009 07:28:39 +0000

[...] Vaz-Oxlade takes on a sticky issue in Making a Complaint about loans made to folks who should not be given [...]

By: Jasmin

Jasmin — Thu, 05 Nov 2009 22:45:06 +0000

That’s one of the saddest stories I’ve ever read.The poor woman to have to struggle through that.
My thoughts are with you and I hope your situation gets resolved in a positive manner.

By: sparky

sparky — Thu, 05 Nov 2009 19:39:14 +0000

if all the info was accurate in the letter it sounds like a dealership…banks don’t stamp “house” across a contract…and he was ineligible for the life insurance due to his age…again, the dealership may be funded through a bank but I don’t think the actual transaction took place inside a bank…and yes there is a difference….

By: Tweets that mention Making A Complaint « gailvazoxlade.com -- Topsy.com

Tweets that mention Making A Complaint « gailvazoxlade.com -- Topsy.com — Thu, 05 Nov 2009 05:38:52 +0000

[...] This post was mentioned on Twitter by Catchsuccess09 and TWT TRICK CARS, TRICKOUT CARS. TRICKOUT CARS said: Making A Complaint « gailvazoxlade.com: My father has FLD and the spending, lack of insight of the consequences.. http://bit.ly/3rViqW [...]

By: Chubby Bunny

Chubby Bunny — Thu, 05 Nov 2009 00:43:37 +0000

Well then the BANK should definately be held responsible. Unfortunately, I would suspect that because the husband has not been actually diagnosed with ANYTHING (even though it’s suspected that he has problems), the contract is probably a valid one. Without a diagnosis, I doubt that she can just charge into the bank and demand that HIS loan be retracted.

By: Gail

Gail — Wed, 04 Nov 2009 23:36:43 +0000

It’s funny how everyone jumped on the idea that it was a dealership. It wasn’t. It was a bank. Hmmm.

By: WB

WB — Wed, 04 Nov 2009 21:09:15 +0000

This is very sad.
Great advice Gail, it’s difficult not to have a strong emotional reaction to this experience.
Sounds like this person has been responsible for their spouse in many ways for a long time.

What really stands out for me is despite the stress that this must be causing there is a mention (twice!) of keeping the husbands credit rating intact “its a shame to ruin his credit..”.

I think it’s a shame to have one person carrying this burden which was not even their doing.
Best of luck.

By: Chubby Bunny

Chubby Bunny — Wed, 04 Nov 2009 20:22:07 +0000

I am shocked. Absolutely shocked, at this situation. Another example of incredible greed on the part of the dealership. I don’t even understand how he managed to get the financing. I pray this gets solved quickly.

Please post an update as the situation unfolds.

By: *pol

*pol — Wed, 04 Nov 2009 19:45:16 +0000

What a terrible situation. I hope your advice, Gail, is taken and the resolution is adequate!

By: Are you Getting Divorced Because of Bankruptcy ? | Getting a Divorce

Are you Getting Divorced Because of Bankruptcy ? | Getting a Divorce — Wed, 04 Nov 2009 18:46:37 +0000

[...] Making A Complaint « gailvazoxlade.com [...]

By: winkwink

winkwink — Wed, 04 Nov 2009 17:33:54 +0000

I hope he has some sort of mental disorder… not that I wish that for their family (or any family), but because it would be a better explanation than betrayal on that scale. To leave your family without the ability to buy groceries?

By: KT

KT — Wed, 04 Nov 2009 16:42:52 +0000

This reminds me very much of a situation that happened with my sister in the late 1980’s… she was sold a car at a very inflated rate by the mom of one of her friends (who was a car salesperson). My sister was only 18, unemployed, and didn’t even have a driver’s license. My father was tricked or coerced into co-signing for the car, it ended up reposessed as she had no income, and it hurt both her & my father in the credit rating department.

By: John

John — Wed, 04 Nov 2009 16:16:35 +0000

If he has dementia/alzheimers then he is likely incompetent to make financial decisions and then the car purchase agreement is invalid. Go see a lawyer.

By: mel

mel — Wed, 04 Nov 2009 15:52:17 +0000

sounds like a dealership….also, usually you can’t get insurance after age69

By: Geoff

Geoff — Wed, 04 Nov 2009 15:10:30 +0000

+1 for Joanne. It’s a misconception that married people are responsible for each other’s debts, unless they signed for it. HOWEVER, that doesn’t mean that joint assets can’t be allocated 100% to pay for these debts. So in other words, Mrs. is not responsible for Mr’s debt, but that doesn’t mean the bank can’t take the house that’s in both their names to pay for Mr’s debt.

So get the house put in your name, Mrs. Many people who have a spouse who run a business do this, because creditors can only go after assets the undersigned have a stake in. (Ie just because my dad can’t pay his debts doesn’t mean that my wife and I lose our home unless I guaranteed his debt). It may cost a few thousand, it may cost you land transfer tax + legal fees, but sleep at night knowing your house is yours and is never going away.