Can someone use debt consolidation to pay off someone else's account?
Question:
Answer:
Debt consolidation is not a good idea. It doesn't solve the problem which caused them get into debt in the first place.
If you want to help this other person then help them understand how to manage money so that they can get themselves out of debt.
Checkout 'Total Money Makeover' book and/or 'Financial Peace University' (13 week course) at www.daveramsey.com.
you must be really in love
Not likely since the bank or finance branch will want to either mail the checks directly to the other creditors or make the checks jointly payable to you and the other creditors.
Bad idea..
What if you go thru this whole process
and AFTER person B's credit cards are paid off,
they go back in debt? Where does that leave you?
"Holding the bag!"
Been there! Done that!
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