Loaned credit cards to a friend she is making payments but late please help

[Gizzy99]

What is the name of your state? North Carolina

My friend needed money so I took out cash advances on my credit cards to loan her the money. I paid her by cashiers check. She has signed for the cashiers checks to be cashed and recieved the money. She has agreed to pay my monthly credit card bills until they are paid off. She has made payments every month but is often late on payments and it is making my credit report look bad. How can I fix this? I want the credit cards paid off or out of my name completely.

 

[racer72]

Make the payments yourself on time. And never use a credit card to loan anybody money.

 

[Multimom]

To protect your credit, I would encourage you to make the payments yourself. Then have a promisory note executed between you and your friend detailing the terms of repayment and have the payments made to you, this way if they default, they haven't ruined your credit in the process and with the promisory note, you have legal recourse for failure to repay the loan.

Best advice: If you can't afford to lose it, don't loan it.