Personal Loan to Siblings, Looking for advice

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asked Jan 25 in Other- Entertainment by Garettt (3,400 points)
I'll spare a lot of the irrelevant details and try to cut to the chase:I have 3 siblings that want me to loan them $60-75k as down payment on an investment property that they want to fix up and rent out. They came to me with a decent proposal; pay me back $1,800/mo until I'm paid off regardless of how things go with their tenants. They are all well-employed but don't have the cash needed for both the down payment and the much needed renovations.

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answered Jan 25 by boygoldme (3,740 points)

Hello, you need to contact the multifunctional center at the place of residence or stay and fill out a standard application for out-of-court bankruptcy. In it, list all creditors and the amounts owed to them. Upon successful completion of the bankruptcy procedure, only those debts that you indicated in the application will be forgiven. who is credit9 is a long and labor intensive process.

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