I am at my wits end and need some advice. My sister helped me pay off 2 of my credit cards by taking out a loan herself in her name with the view of helping me to get out of debt. Foolishly I continued to spend on these cards and have now maxxed out on them again after 6 months. If I go bankrupt would the OR be able to take action against my sister in this instance? My sister did this in good faith and I don't want my sister to be declared bankrupt through my own foolish mistakes.
your sister will not be affected in any way by your debts or your BR. But the debt she took out is legally hers and will not be written off in your BR therefore she will have to continue servicing the monthly repayments whilst you are BR.
I am at my wits end and need some advice
Posted - 21 November 2008 : 14:23:55
