Worried grandparents

Dear Queenie,

  My son and his wife both have good jobs, but they do not pay their bills on time and his mother and I get calls from collection agents looking for them. Now they want to take out a loan for a new car and they want us to co-sign.

  Queenie, we are retired and we have enough to live on, but we are afraid of getting stuck with the debt. On the other hand, what if they stop letting us see our grandchildren?—Worried grandparents

Dear Grandparents,

  If debt collectors are calling you looking for your son and his wife, it means they are already not paying their bills, which means there is a good chance you will get stuck with the debt if you co-sign a loan with them. And do they really need a new car?

  If they stop letting you see your grandchildren, that is a risk you will have to take.

  On the other hand, if your son and his wife get in real financial trouble – even bankruptcy – there is a good chance they will have to come to live with you, if you are able to take them in, or that you will be given custody of their children if they cannot find adequate living quarters.