Fool Me Twice....I'm old.

[NellieBly]

What is the name of your state (only U.S. law)? ME

When my niece was 17 (I know, not a competent party) she "borrowed" several thousand dollars from my mother's elderly husband, with which to buy a car. She made a few $40 payments, then quit entirely.

Despite this (now she's in her early 20's), she conned my mother into cosigning a car loan, on which she failed to make payments. She must have done one heck of a snow job, in light of the earlier default.


We found this out because my mother is no longer physically able to write checks and I had to help her pay bills. Despite physical ailments, she has no guardianship. She's 81 years old.

By the way, my niece has a job and lives in a nice apartment. This is not a matter of not affording it.

Is this considered elder abuse?

Can we have the car repossessed?

Anything?

 

[tranquility]

Mom can spend her money as she wishes. If she has a problem with the situation, she might be able to take some actions depending on the exact agreement.

 

[NellieBly]

Mom can spend her money as she wishes. If she has a problem with the situation, she might be able to take some actions depending on the exact agreement.

She has been angry with my niece for ages. I didn't find out why until I was helping her write checks. I had to help her call the bank and she told the bank representative that she signed the contract "by mistake."

 

[tranquility]

She has been angry with my niece for ages. I didn't find out why until I was helping her write checks. I had to help her call the bank and she told the bank representative that she signed the contract "by mistake."

One should not sign as a cosigner by mistake. What was the mistake? Why should the bank suffer?

Is mom on title of the vehicle at all?

See also:
http://www.mainelegislature.org/legis/statutes/9-a/title9-Asec3-206.html

 

[LdiJ]

One should not sign as a cosigner by mistake. What was the mistake? Why should the bank suffer?

Is mom on title of the vehicle at all?

See also:
http://www.mainelegislature.org/legis/statutes/9-a/title9-Asec3-206.html

The woman is 81 years old...at that age its quite possible that someone could sign something "by mistake"...or be financially abused by a younger relative. I am not quite understanding where you are coming from on this thread.

 

[Zigner]

The woman is 81 years old...at that age its quite possible that someone could sign something "by mistake"...or be financially abused by a younger relative. I am not quite understanding where you are coming from on this thread.

There has been no evidence presented to us that the mother was incompetent at the time the contract was signed.

 

[tranquility]

I agree with Zigner and add, if mom is incompetent, a guardianship should be established now.

 

[ecmst12]

It doesn't even look like mom is incompetent NOW, she just has arthritis. Mom made an expensive mistake.

 

[LdiJ]

It doesn't even look like mom is incompetent NOW, she just has arthritis. Mom made an expensive mistake.

That is a valid point, but I was viewing that a little differently. In the very beginning stage of Alzheimer's the ability to deal with numbers is the first thing to go. My dad was still pretty competent with everything else when mom had to take over the family finances.

 

[ecmst12]

That said, mom is old and probably not in need of spectacular credit at this stage of her life. She can always just stop paying this loan. Then, either niece will start paying it herself, or she will lose the car. In the end, mom may end up needing to pay after repossession, but at least it won't be an ongoing bill, and niece's credit will be damaged to the same degree as mom's - and a young person who hopes to buy a house someday has a MUCH greater need for good credit than an elderly person. I think it's important that niece suffer some real consequences for her actions other than just having grandma mad at her.

 

[Gail in Georgia]

"Can we have the car repossessed?"

"We" can do nothing (the OP has an amazing history of sticking her nose into things he/she has no legal control over). Mom can follow ecmst12's advice.

Gail

 

[Proserpina]

Post hx.

Really.

 

[NellieBly]

That said, mom is old and probably not in need of spectacular credit at this stage of her life. She can always just stop paying this loan. Then, either niece will start paying it herself, or she will lose the car. In the end, mom may end up needing to pay after repossession, but at least it won't be an ongoing bill, and niece's credit will be damaged to the same degree as mom's - and a young person who hopes to buy a house someday has a MUCH greater need for good credit than an elderly person. I think it's important that niece suffer some real consequences for her actions other than just having grandma mad at her.

Thank you.