Legal Question in Credit and Debt Law in California

credit card loan to brother

I let my brother charge some expenses (he's a mortgage broker and the charges were from his business) on one of my credit cards - about 15k. We verbally agreed that he would pay off the balance with interest and also send payments to me every month so I can the credit card. needless to say, he's been late every month w/ payments and I feel I may get stuck w/ this debt. What are my legal recourses? sue? should I get something in writing saying its his debt/loan? thanks. I live in CA he lives in WA.


Asked on 1/22/09, 9:19 pm

1 Answer from Attorneys
Bryan C. Becker Your Lawyer for Life.

Re: credit card loan to brother

I suggest you remind your brother of your agreement and ask him to sign a written agreement acknowledging that this is his debt obligation and detailing the repayment plan. If you would like assistance drafting such an agreement, feel free to contact me.

Yours truly,

Bryan

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Answered on 1/23/09, 1:04 pm


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