Balance Transfers to help someone else

MattMattMattUK

Robsta1973 said:

Hi
My best friend owes money on a store card and is struggling to mamage. They have poor credit so can’t get more credit. I was going to help out by trying to get a 0% balance transfer card Does anyone know if I would be able to do this with Virgin Money. Or know of any other ckmpanies I could do this with please? My own credit rating is good. Thanks for your help
👍

Only take on this debt if you are prepared to have to repay the debt yourself and lose a friend, because one or both of those are the likely outcome. 

Billy_B_North

Are you viewing this as a gift to them?

If not, they may well come to resent paying you back if they continue to struggle while you don’t. They could ask themselves why you should get their money when you don’t need it. It’s not a rational view, but people with debt problems rarely have a rational view of money.