A Category of Personal Debt when Filing Bankruptcy
A San Francisco Bankruptcy Attorney remarks on claiming personal debt in bankruptcy
In our San Jose bankruptcy law firm, we often get the question of whether or not debt paid for by a family member’s credit card can be claimed as personal debt by the bankruptcy filer? In other words, in an effort to consolidate debt, some consumers in debt try to do so by merging credit cards into one debt, then getting assistance and putting the total amount of credit card debt onto a family member’s credit card, then opting to pay them instead of the credit card company. Once they decide to file bankruptcy, it is a common inquiry as to what status this type of debt falls under.
In this case, the debtor would list the amount owed to the family member as a personal loan. If you owe the family member money, even though they paid your bills on their credit card, it would still be considered as a personal loan owed to them by you.
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