Can I take on my brother's credit card debt?

smithwell

Wow.
You have all been so helpful - thank you.
Ben, I already have the money for the extension. And if I do go ahead, and he signs my contract, then I as soon as I get the card, it will be put in a draw and be forgotten about.
Good idea Michael, about the set up DD for AT LEAST the minimum payment. My brother isn't a scum bag, so fingers crossed it will work out just fine. Nomoneytoday, I see this is as an opportunity to help him deal with the real issue of his debt (Ex-girlfriend who ripped him off didn't help (he took a loan out on her behalf and got screwed over, so knows the score!).
Do you think I can put as part of my contract that he has to give up the fags...!?!?!?! (At least £40 a week that is!!!) Or am I just being a 'holier than thou' big sister?
XXXX my husband is worried just for that point about personal credit records, but I really do trust my br:Tother.

property.advert

If he can spend £200 on ciggies then yes, he should give them up. You say he has kids, he should have given up for them. Does he booze as well ?

If you pay the 5k off in 12 months (assuming 12 months no interest) then he'll have to give you £417 a month. If he cannot afford or will not agree to this, then you are at £209 a month for 24 months which means you will be financing him yourself.

He has £200 a month from the ciggies at least so there is half. I'll bet he can find the other £200 if he wants to.

BenL

Super, well looks like you are sorted and know the risks etc.

I lent my brother £5000 a few years ago as the mortgage co changed what they would offer to loan him for his 1st house.

I knew i wouldn't be out of pocket as parents would pay me back for being nice and they would sort out the rest. In the end all went smoothly and I got the money back within 6 months or so from his work bonuses.

esmerelda98

leachyd wrote: »

that isnt somethinig for you to say really if you ask me.

Mummyto2boys is free to politely express her opinion on this forum, just as the original poster is free to ignore her advice, as well as all other opinions proferred, if he so chooses.

Incidently I would consider helping out my siblings with such a balance transfer in certain circumstances, as they are not reckless with money, even if they are not penny-pinchers. However I can see how it can all go horribly wrong.

leachyd

esmerelda98 wrote: »

Mummyto2boys is free to politely express her opinion on this forum, just as the original poster is free to ignore her advice, as well as all other opinions proferred, if he so chooses.

Incidently I would consider helping out my siblings with such a balance transfer in certain circumstances, as they are not reckless with money, even if they are not penny-pinchers. However I can see how it can all go horribly wrong.

Agreed, i just feel that answers and advice should be balanced that's all.