Can I be responsible for my parent's debt?
February 6, 2013 8:46 PM Subscribe
My dad is horrible with money. He has lots of debt and for some reason, banks continue to give him loans. He never makes payments and he's always in the red. I've tried my best to keep him from getting credit cards and taking out loans but he's an adult and if the banks keep doing it, there's nothing I can do to stop them. My mother says that I'm going to be responsible for his debt but I have never co-signed anything with him or gone to the banks with him. Is it possible for me to still be responsible? Are there any steps I can take to make sure I won't be responsible?
posted by cyml to work & money (27 answers total) 3 users marked this as a favorite
Also, my parents are divorced, but my dad still uses our home address to take out loans. Is this a potential problem?