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Garyck Asked March 2020

Grandson started a business bank account with my father and my father said he didn't want his name on anything else. Any advice?

Thing grandson bought a car and we found out its in my father's name they have similar names and he just moved in with us a couple a years ago.

GardenArtist Mar 2020
I'm with JoAnn.   There are 8 answers to your previous thread, no responses to clarify our questions.   

Take some time and reread your first thread, then address the issues we raised as well as the ones being raised in this thread.  

These are interactive threads- you'll get more targeted responses if we understand what your real issues are, and that requires response from you.

Help us out, okay??

FloridaDD Mar 2020
When my DD was 25,  she had a relatively good driving record, but insurance would be much more expensive if car in her name.  Not certain why anyone would put in Grandpas name

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JoAnn29 Mar 2020
Did your father co-sign for it? Is ur fathers signature on the paperwork? I

This is how it works in my part of NJ now. There is no more "co-signer" its "co-owner". The person with the good credit becomes the owner #1 of the car but owner #2 makes payments and gets credit for making those payments. This helps the owner #2s credit. The title is in owner #1s name though. So, once paid off, owner #1 should transfer the title over to owner #2. If owner #2 defaults the payments fall on owner #1 and will effect his credit.

Read the dealer contract to see if I am correct. If its still confusing, go back to the dealership and have them explain. I have a feeling that the Grandson had no credit or a low credit score and the only way he could get the car was Granddad being the #1 owner.

You posted earlier and have not responded to questions asked:

https://www.agingcare.com/questions/my-father-93-has-a-will-his-grandson-thinks-hes-getting-the-house-when-my-father-dies-can-he-contest-456983.htm

Geaton777 Mar 2020
Hi Garyck, can you please restate your post as a question? I'm not sure what it is you wish to know. Thanks

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