I am a single mother, and so far,, I have a perfect credit.
My big issue is I did some balance transfer for my sister so she can enjoy the 12 months 0 interest,, in two credit cards,, and then we were going to transfer back to her credit cards,, she is a realtor, and when all the market went down,,, so did her income and her credit cards were closed,, so now I have her debt in my credit. The big problem is that she has a one year old and her second baby is almost here,,,,, she does not want to work in anything but real estate so she can stay home with the babies. She is barely paying her bills and her credit is already bad,,, but is now to the point that she cannot make the minimun payments in my credit cards (her debt) so I have been transfering back and fort the minimun payments just to ensure my credit does not go bad.
I cannot afford to make her minimun payments, since her debt is almost 60 thousand.
I am going crazy thinking about how I will ruin my credit for a credit card debt that is not mine, I did not enjoy , or utilze this money and I feel the only way out is bankrupcy. I already have a full time job and I dont’ think is fair that I need to get a second job to pay my sister debt and loose the time with my four year old.
I am also affraid that if I file brankruptcy they force me to sale my house, since I do have like 60thousand in equity. I cannot take an equity loan because my debt ratio is already max out. Is it really brankrupcy my way out? can she file bankruptcy and take her debt from my credit card with her?