Chapter 25 - Dad’s finances
Dad’s conviction did not ruin him.
He had retirement savings.
Home equity.
Pension income from his earlier career.
He paid legal bills.
Bank settlement.
Supervision costs.
Painful.
Not destitution.
The bank reached a settlement around the Encore Motion debt.
Ashley remained primary borrower.
Dad’s legitimate limited guaranty covered a negotiated portion after default.
He paid.
My purported guaranty was released formally.
In writing.
I kept that letter.
Not framed.
Filed.
Community Union also strengthened verification requirements for personal guarantors.
An employee told my attorney the bank now required direct confirmation for similar third-party routed documents.
Good.
Systems should learn too.
No one person’s apology fixes weak process.
Dad sold a vintage Corvette to cover some legal expenses.
He loved that car.
Relatives called it:
“Laura made him sell.”
No.
He made financial choices after legal consequences.
I did not buy the Corvette from him.
May you like
Tempting.
Too symbolic.
