My sister has taken out two credit cards in my name amounting to over 10,000 dollars in debt if i turn her in?

Question

My sister has taken out two credit cards in my name accruing over 10,000 dollars worth of debt. If I turn her in, what would happen to her? what would happen tot he debt?

Answer 1

She would go to jail and probablly have to repay the debt.

The debt would not be your fault and would be expunged from your credit report.

Answer 2

First cancel the cards.
Second, contact the credit bureaus and let them know that that should not share your information with any creditors until they have contacted you first. This will prevent her from opening up any additional accounts in your name.
Third, contact your creditors and let them know what happenned. They may write off the debt, but press charges against your sister for fraud.

If you don't report what happenned to the credit card companies, you are liable for the debt. If you don't want your sister to have a criminal record for fraud, you could try to work out a payment arrangement with her, but it doesn't sound like she has been very trustworthy so far. Maybe somebody else in the family or one of her friends will put up the money for her.

If you report the incident, she'll be arrested, but it is the only way to get the debt out of your name. Even if you don't report the incident, you should protect yourself from having this happen again by contacting the credit bureaus.

Answer 3

First may I say thank you for your previous response to my question. Now. I realize this is your sister, but if you don't report her you may have ruined credit for life. She'll do a little jail time, probably just a few months if that. But it's not like going to prison. You can always request to speak on her behalf or submit a letter asking for leniency if you have good reason. Example, she has an addiction and needs help not jail. But if you don't get proof of what she's done in writing from a verdict, you may never be able to buy that car you need or home you want because her actions reflect on your credit report. I have a similar problem right now so I know what I'm talking. Besides. This will be for her own good. She needs to learn that for every act there is a consequence. Good Luck Sweetie

Answer 4

First they get right into a debt of like $5000, then they acquire greater credit card approvals interior the mail. They use them to purchase further and extra stuff. nonetheless, greater credit card approvals come interior the mail. the reason being that the credit bureau's can freely provide out your man or woman tips, except you're saying otherwise. lots of those credit enjoying cards have severe pastime and annuals too. that is relatively undemanding for little ones and previous people, who do no longer understand what they're doing, to get their hands on credit enjoying cards. i think of that there might desire to be a regulation it which the credit card businesses ought to make absolute effective that the guy might have the skill to pay off the credit enjoying cards and modern-day debt. in the event that they do no longer, and not something replaced (like the persons pastime), then they must take it as a foul investment. isn't that how the credit card businesses are meant to be making their money, pastime.

Answer 5

Sweetie, if you don't turn her in, the credit companies will view this as YOUR debt and expect payment from YOU.

If she can pay it, or if your parents/you want to gift her $10,000 and pay the debt off for her, great. If not, something has got to give. Invariably that means filing a police report that she stole your identity and let the credit card company file charges against her.

At the very least, turn off the ability to charge anything new to these accounts and put a fraud alert on your credit history to prevent her from opeing new accounts in your name. You will have to renew the fraud alert every 90 days and get your credit history report on a regular basis to ensure that she doesn't do it again.

As for family, if she loved you she wouldn't have screwed you over. Turning her in is not being mean, it's protecting YOU.

Answer 6

If you turn her in, and the ensuing investigation proves she did it, she'll go to jail for theft, credit fraud, and identity theft. The debt will go with her, but you will still be left to rebuild your credit and get you financial life back together.

If you don't turn her in, you get to pay for her shopping spree, and she walks free to do it to you again someday.

Tought choice ... family or law ... but remember, your sister didn't take your wellbeing into consideration when she racked up $10,000 of debt in your name. You are the one left holding the bag here, and the law has changed in recent years to make it much more difficult to get out of earned credit debt without feeling a significant amount of pain. If you don't want to pay for her theft, you NEED to turn her in. While I appreciate your concern for her, you need to think about what could happen to you. Credit companies are relentless in the pursuit of their money, and you face jailtime if they think that you were a part of this theft. It is your identity, and you will be the first person they look to for wrongdoing here. You need to protect yourself.

It will be hard on the family, and your relationship will never be the same ... but I'm guessing it isn't that great as it is, or she wouldn't be using your identity to steal.

Answer 7

She's definitely facing jail time. All of her assets will be confiscated and everything she bought will be returned. You better turn her in because this is YOUR credit thats being screwed over, so you have to clear things up so that when you buy a house or a car or apply for new credit cards you dont get denied. Seriously though, if this was my sister, I would personally drive her down to the police station and let them have at her.

Answer 8

First thing cancel the cards. She would most likely get prosecuted and get a community service, worst case she might go to jail. If u do decide to take this route she would have to pay all the money back not you. But if you decide not to you will have to pay the money back and if u cant it could ruin your credit. Can ur sister pay it off? If she can't and U can't afford to, maybe u should get a lawyer and have a contract done where she has to or u will turn her in. Good luck

Answer 9

Take her to small claims court or claims court.
Explain your situation at the trial date to the judge and it will be in writing that your sister owes theis money not you. And you can maintain your credit taht way by sending creditors after her for this money instead of you.
you will also have proof for the future if you have any problems with credit issues because of what she has done.
If she does not show up to court you just present the proof and the case is won for you. If she does show up you still present the proof and you get to argue your situation to the judge for a ruling.
She will not have to go to jail unless you put criminal charges on her. She is your sister, I would not recommend this because as much wrong she has done, she is still your sister and jail is not going to help but make her worse i think.
Just file a complaint with th ecourt and get a court date, make your court date and your case, get a copy of the ruling and save your credit and send the debt collectors to her.
Also protect yourself from any further occurances by checking your credit report every 3 months.
Good luck and God bless!

Answer 10

Even though she is your sister. If you let this slide then it will ruin your credit , and cause more troubles for you later. As she could continue to screw you over in other areas of life. Plus that is indentity theft and a felony, No matter who does it, or to who it happens to. Family is not acception.
For if she does it to you then she may not stop there. She could assume anyone's identity and begin to major lifetime of crime.
Go to the authorities about this. But I'd first confront her yourself and tell your family. As this action she's done can effect everone in the long run.
BUT DON"T ignore it . Call the credit company and explain to them that these cards are not your . that someone else used your name.

Answer 11

Her Creditors knows she owes them money, believe me they keep calling and sending her bills, if she does not pay at least the minimum payment every month. What I don't understand, is why you feel you have to turn her in. There is nothing to turn her in, for. The only crime, she has committed is having to owe back a lot more than $10,000 if she does not hurry up and pay it back. That $10,000 will keep adding up interest and penalties. She may end up owing the times, as much when it is all said and done. Believe, me I have been there and done that. That is not a nice place, to be.

Have a nice evening.