Posted on April 1, 2009 at 8:01 am I've known someone on having such many debts and even he uses the other peoples name just to have loans and he did not even tell what's the main purpose for using that money. Some of his friends agree with it to use their name for having a loan because of the attachments and the friendship they had. And now he keeps on having another loan just to pay for the another loan that are on dues. Do you think this kind of strategy will make him a debt free?? And as of now his facing a big problem because all the loans that he joined are on its dues and should be paid and it makes his friend in a big trouble also because he uses their names and even the owner of the names are in problem too. But he promise that he will shoulder the payments of the loans. Yet, he should pay for that because he is the one who used the money. And if ever he did not paid this, the management of the loans will have to pass in the attorney's hand to be in court.

Posted on April 1, 2009 at 8:15 am More or less he has a $10,000 debt.

Posted on April 2, 2009 at 3:46 am Personally I think somebody is going to end up in court filing chapter 7 or 13. How much of this Debt is unsecured?  How late are the payments? Whats the interest rates?  There's alot of questions that need to be answered. You can private message me and we can talk or post it on here because I need to know more????Rick