That's just their way of saying thank you and showing appreciation for the bailout money they received. Doesn't it just made you warm and fuzzy inside.
This is better than what happens with student loans. There have been a number of situations recently where students' parents have been held responsible for loans that they didn't sign for after their child's death. Talk about adding insult to injury!
Apparently it somehow is, I think I've read about 2 lawsuits. How horrible would that be? You'd think suffering the loss of your child would be bad enough, but having to fend off debt collectors? It's just awful.
This happened to us when my husband's mother died. She had $20 in her account and we tried to close it. They said only she could close the account. So we kept getting statements and over draft notices. Idiots.
Only way I could see that happening is if the parents cosigned for the loan (which a LOT of parents do since most 18ish year olds don't have much for credit, so it helps keep the interest rate low knowing somebody with money and a job is also responsible to pay it off) And that's the key bit that for some reason a lot of people don't really understand. If you cosign on a loan, you are saying that if the other party stops paying, for whatever reason, YOU will pay it off.
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Now if they didn't sign for it, I don't really think they could actually force you to pay it off, although they could definitely pressure you enough and make you think you have to pay it off.
I guess I meant we kept getting her bank statements and over draft fee notices. We didn't have to pay it but we tried to tell them they were wasting their time billing a dead person.
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Now if they didn't sign for it, I don't really think they could actually force you to pay it off, although they could definitely pressure you enough and make you think you have to pay it off.