From the monthly archives:

July 2008

bankruptcy
losparx asked:


In the past I took on some of their debt as they had trouble getting credit. This debt is held on credit cards which they and I have been paying off over some time.

They are likely to be forced to file for bankruptcy soon, therefore my question, what will happen to the debt on the credit cards which are under my name?
Will these be covered as I am a creditor to them?

PLEASE ONLY ANSWERS FROM PEOPLE WITH EXPERIENCE IN THESE MATTERS.
(a moral lecture is neither constructive nor desired)

Thank you.
I don’t live at home.
I can provide proof of balance transfers from their account to mine.

{ 7 comments }

How to file Bankruptcy and is it recommended?

July 1, 2008

eucalyptusrox asked: How does one file Bankruptcy after job loss and stuck with a foreclosed home and repo’d automobile? Is this a long process and is it recommended? What are the key negative points if one chooses this route? Thank you!
Also, how likely is it that a broke jobless person will get [...]

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