Brought to you by CHL, a biblically-based alternative to health insurance. Learn more at chministries.org slash budget. I had been listening for a little over a year, but the month before I started listening, I co-signed on a truck for my now ex-seance. Oh, Greg, I'm sorry.
Yeah, rough situation. So we agreed once then that, hey, you know, we can keep going as it is for a year because we need to wait for the maturity date. Okay. And so it's coming up on that.
And just in talking to her occasion, she most likely is not in a position to repiance it on her own. And she has said that her parents or anyone else won't help her. Good for them. Yeah.
Just from my perspective, I'm not quite sure how I can get myself out of this. Have you tried persuading her to sell it and start over fresh on her own? I have. She is not completely opposed to the idea, but I don't think I can really rely on her actually following that through.
Can I ask a question? And I promise it does kind of relate to this. Who broke up with who? I am.
Okay. It makes it a little stickier. It makes it stickier because this is a tie to you. This is a way for you to still be in her life.
Are you getting pulled over, Greg? No. There's an alarm going off. Oh, no.
Are you trying? Are you getting pulled over? But my point is, this is a tie to you. And if things were different, I'd say you could make the argument of, hey, you broke things off, and I want a clean break, and I need to be free from this.
You can make that argument, but in this case, it does make it a little tough. How much is the loan for? There's about 27 left on it. Oh, man.
How much is it worth? Do you know? I actually did look up the Kelly Blue Book a couple weeks ago, and it said that private party sale was top, like, 23. Oh, gosh.
And it's upside down. Yeah. Yeah. I think this is only going to get worse.
So I would really encourage her to sell it, and I'd be strong on that. And I'd say, listen, there's a reason that you can't refinance. I mean, the math is, like, the logical reason is there's a reason you can't refinance this, and the reason is the bank has looked at your financial situation and said it's not stable. You cannot afford this on your own, which means they expect you to default, which means I'm here for when you default.
That's what that means. And I don't know what – the hard part is I don't know if your relationship is there for you to even talk to her like that anymore, but that's the truth of the matter. I know, because, I mean, you can't make her do anything, and so you really are kind of at the mercy of her. I'm like, you can't go in and, you know, take your name off the loan in secret.
I mean, like, yeah, so it is – so, yeah, you're in a tough position, Greg, and it's kind of one of those – I'm sorry that you're going to have to be one of those sad examples that we'll probably use this. We have to say when someone calls – my girlfriend wants to be a co-sign. We're going to say, talk to Greg in Biloxi. Greg will tell you don't do this because this is what happens.
My family agrees. My family agrees that this is the dumbest thing I've ever seen in my life in my life. Oh, man. Well, I mean, unless you can just convince her because you're a great salesman, but coming from an ex-fiance, she's probably not going to want to listen to her – to your advice.
I broke her heart. Sorry, Greg. And now you're – I mean, yeah, there's nothing you can do, so I think it's one of those stupid texts. You know, and I'm praying she doesn't default.
Me, too. And she just pays this and gets out of it. She has been very consistent on the payment. Yeah, okay.
What is the payment? Oh, gosh, it's almost seven. Oh, gosh. I mean, listen, the most practical thing you can do to be ready for this storm is if she defaults.
If she defaults. And as we talked about on the show, having a bad credit score is very difficult. We talk about having a zero credit score, which is wonderful, but this will keep you from having that, even if you pay off all of your other debts. So if I were in your shoes, which this is the game we like to play, I would be – which, by the way, we don't know much about your financial situation.
Do you have debt? The truck technically, and then I have about 22,000 in student loans I'm working on. I've already paid credit card debt. Well, I'd go gung-ho on your debt.
I'd work the baby steps on that. And then when I was through, I would be mindful of keeping some money stacked up. Yeah, for your emergency fund, this is something you may have to pay for. And I would tell her, too, Greg, you don't want to emotionally be attached anymore, right?
And it keeps you guys somewhat together in a weird state for the future, so I'm sorry. CHM isn't health insurance. It's a health cost-sharing ministry. Check it out for yourself at chministries.org slash budget.