I let my parents borrow my credit card because they usually make so much money I assumed they would pay me bac?

But due to the crash, they still are barely eating themselves, which is unbelievable, as they previously made a lot of money. So I have had this debt under my name ($8,000) for about a year now, which is shocking considering how much money the person who spent it used to make before the crash. No one, including them, could have imagined that this would have happened. The bank already cancelled the card and recently set up a payment plan that I can barely pay and don't want to b/c it's not my debt. I know that I am responsible, however, since this is family that borrowed the card, and they would be willing to have it put in their name, is this even something that is possible? I mean I don't want my credit to continued to be ruined simply b/c I came to my family's rescue. I mean they wouldn't have been able to eat, literally. I mean the credit card company probably won't care right? Or would they possibly let the debt go into someone else's name (the actual person that spent all of it.) Would I have to sue my family member? The only reason to do anything is to save our credit so we can actually rent something in the future. We are newly married and it sucks to be starting out this way just because I compassionately loaned my card to a suffering family member.

3 weeks ago - 3 answers