repayment of money owed

Katherine - posted on 12/01/2015 ( 1 mom has responded )




Hi my son is a recovering addict. I had co-signed for his room when he went to college and now I am responsible to pay. I would like for him to pay me back. When is the best time to ask and possibly set up a payment plan and should I ask for him to pay me back? Thanks


Raye - posted on 12/01/2015




The best time to ask is when you can be calm and talk to him as an adult. Neither of you can change what happened, and have to find a way to move forward (hopefully without further damage to your relationship). He made a commitment to the property manager that he would pay, and you put yourself on the line as insurance for him. He broke that commitment, and should be made accountable for his actions. It's up to you on how much you require him to reimburse you for those payments and what time frame he has to pay in full, though it might be a nice gesture to agree to a lesser amount if he continues to stay sober and proves he can be responsible moving forward (unless you are now in financial hardship due to covering his debts).

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