Hate New Loan DH Negotiated

[Anonymous]

Run, don't walk, from that loan, honey. Too many red flags.

[Anonymous]

No they do not seem reasonable. She is the one that has a salaried job, he is self-employed. Yet she cannot change her job but she is the major bread winner? OP, tell DH to call the IRS tomorrow and tell them to stall on their collections and that he is working out a way to pay the tax debt. That is all they want to hear - they want communication from you (or DH in this case) and that his is working on it. DO NOT SIGN THOSE PAPERS!!!

And second question: how can he be even QUALIFYING for a loan if he is behind on his taxes? I suppose only with you? This all sounds fishy now. Sister, I wish you well but I would seriously REALLY THINK HARD about signing those papers. Sounds like he's undermined you before, he is fiscally irresponsible, has "forced" you to sign things you have not agreed with . . . AND YOU MAKE MORE MONEY!!! AND HE IS NOT PAYING HIS TAXES!!!

PLEASE DO NOT DO THIS!!!

[Anonymous]

If you are getting this loan from a candy store or flower shop run while you still have legs.

[Anonymous]

Anonymous wrote:But they say they are making the loan to him because of his business and it wouldn't be available to me, yet I have to co-sign and can't change jobs? That doesn't make sense. They said I would not be eligible for the loan based on my earnings; it's a "status" thing.

How long will you need the loan for? How long will it take him to pay off this tax bill? Is it something you can buckle down and pay off in a few months? The terms become less relevant if that's the case. I think this may be an opportunity to consider really revamping your finances.

[Anonymous]

Then let him default then. Two can play at his little game.

You are not signing this, and from now on, you want to be consulted first, not as an afterthought.

[Anonymous]

Can't you guys work with IRS for an installment repayment plan?

[Anonymous]

These are all good questions I'll ask our finance guy in the morning. Thanks all. -OP

[Anonymous]

Anonymous wrote:
Then let him default then. Two can play at his little game.

You are not signing this, and from now on, you want to be consulted first, not as an afterthought.

+1

[Anonymous]

You, in essence, are loaning your husband's business money

[Anonymous]

Your husband is a deadbeat!!!! Don't loan him money. Consider divorce - he's about to wreck your financial life.

[Anonymous]

Do NOT sign that. Call the IRS and work out a payment plan. Interest rates are stupid low and the IRS will work with you. That loan sounds super shady. I would not sign anything that allows them to accelerate the loan for any reason.

[Anonymous]

Anonymous wrote:Do NOT sign that. Call the IRS and work out a payment plan. Interest rates are stupid low and the IRS will work with you. That loan sounds super shady. I would not sign anything that allows them to accelerate the loan for any reason.

lol, what do you think happens with your mortgage if you miss payments? Some acceleration provisions are reasonable. The one about the job change sounds like it is not.

[Anonymous]

Anonymous wrote:Do NOT sign that. Call the IRS and work out a payment plan. Interest rates are stupid low and the IRS will work with you. That loan sounds super shady. I would not sign anything that allows them to accelerate the loan for any reason.

I agree with this. Call the IRS. They will work out a reasonable payment plan, since all they really want is your money. They don't care how... as long as it gets paid.

I'd rather take a loan from the government than a shady shady bank that has shady shady provisions!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Do NOT sign that. Call the IRS and work out a payment plan. Interest rates are stupid low and the IRS will work with you. That loan sounds super shady. I would not sign anything that allows them to accelerate the loan for any reason.

lol, what do you think happens with your mortgage if you miss payments? Some acceleration provisions are reasonable. The one about the job change sounds like it is not.

Well, no shit if you miss your payment. Don't be intentionally obtuse. Let me clarify, any reason while you are paying on time.

[Anonymous]

What's the big deal? Husband is in default ion Monday if you don't do this. If you do you won't be in default until way after Monday, if ever. This is a no brainier