Advice needed

nelly2605

I took a credit card out for my bro in laws to help them when they moved into there own house.Stupidly I let the borrowing go way too high and I want this off my name.

Is there a way I can get the card switched to there name?

They cant get credit cards themselves.

Robert_Sterling_3

nelly2605 wrote: »

They can get credit cards themselves.

Well why didn't they then.
They could each get one now and your balance could be transferred for a fee of about 3%.

nelly2605

OP edited.

Ivydene

Nelly
You say they can't get credit cards in their own name?

I hate to kick a Good Samaritan in the teeth but I assume the card(s) you got them is in your name? Then the debt & payment record is in your name and on your credit file. If you applied in their name to take advantage of your better credit record, that would be fraud IMO.

If they still can't get cards then the only solution is for them to get a loan (bank or family) to pay your card off asap or you pay it off and cancel the card.
Make cash loans in future, and get them to sign a clear repayment schedule, you may never see the cash again but it won't affect your credit rating.