Five year debt relationship

January 25th, 2006 by Questions

What happens if a person has attained much debt from a relationship and has to work two jobs to try to payout although cant seem to get ahead.
The feeling of giving up is right there, crying and anguish
I have cosigned a loan for my brother does he lose his vehicle because of me?
I can figure out what to do – other then keep working a second job but i am wearing out….my kids are wondering if i am alright….please send some advice


One Response to “Five year debt relationship”

, Barton Goth, GCO Inc. Bankruptcy Trustees said:

It sounds as if filing a bankruptcy or consumer proposal will drastically improve your financial situation and suggest you contact a licensed trustee to investigate which would fit your situation best.

As for the vehicle, have your brother contacts the lender and see if they would be willing to take your name off the loan. If they are not willing to do this (and it wouldn’t surprise me if they won’t), have him explain that you will be filing a proposal or bankruptcy and he is intending on continuing making payments and would like to keep the car. Giving the lender this heads can help to ensure they are aware and will be cooperative in advance.

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