Can you put the balance of a personal loan that has a cosigner onto credit cards and declair bankruptcy?

Answer 1

To try to protect the co-signer you mean? I suppose you could if you want to risk the credit card people prosecuting you for fraud. The cosigner is toast; it's the risk they take, and all you are going to do is make it worse.

On the other hand, declaring bankruptcy isn't the worst thing in the world. I declared bankruptcy a few years ago and three months later I was driving around in a late-model car and fighting off the inexorable offers for credit cards. NObody cares: finance companies look at it that you now have some money in your pocket because you are not paying on your crappy car, and they want that money from you. Just forget about getting a Lexus at 0 percent interest.

Phil Any action you take for at least the 2 years before filing bankruptcy may be challenged as being done preferentially or in anticipation of the bankruptcy and can be reversed. So, there is a chance that can happen. Now, don't get the following wrong...BK is clearly a reasonable act...and intended for those who have no alternative...and really for those who find themselves there because of misfortune and needing or derving a break. But it's also something that should trigger real action and change to hopefully avoid ever having to do it to anyone again. To try to protect your family is normal, but to do it at the expense (and questionably legal actions) against those that believed in you really can't be justifiable. It's wrong...every which way from Sunday. How did the lender become an adversary? The lender agreed to make a loan to you and insisted on a cosigner because they could see, and probably told you, that you didn't seem capable of affording it...(you asked and wanted them to do it)...you all agreed and understood the terms and risks...you would pay or the co-signer would. Promises, self respect, creditablity of all types and levels, basic honesty...any of these mean anything to you? And I would suggest the cavalier attitude about bankruptcy expressed above is a perfect example. He's wrong...all the people he didn't pay back do care...all those that provide credit or desire honesty in whom they deal with...(as opposed to those looking to take advantage for themselves)...do care. Including prospective employers. It's really he that doesn't care...apparently about anything but having stuff for him. Hope he enjoys his new Lexus (at a high interest rate, high price, etc)...and whatever else he treats himself too after going through that ordeal of bankruptcy, till he needs to do it again....Gee...wonder why he had to go bankrupt...could the term greedy, irresponsible wretch apply?