I have an older family member who has a huge credit problem, including
seven max'd out credit cards plus a home equity loan. I'm willing to
help but want to know if there is some way I can make sure they never
take out another loan or get another credit card ever again, after I
pay off these and close the accounts, leaving them with only one
credit card. Any way to do this?

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Clarification of Question by englishpaulm-ga on 13 Dec 2003 10:02 PST

For example, can I have the older family member write me a note due
for the amount, and then have me (or my business) issue a report to
the credit reporting agencies showing the person's unpaid debt to me?
Would this work, and be enough to scare off future credit card offers?

No!

(Sorry)

Interesting idea but I don't think that it would work.

The credit card companies are so aggressive these days that they try
to give their cards away to almost anybody.

I've come across cases (in the UK) where some folk have run up (and
defaulted) on debts of £200k plus and yet they still manage to get new
cards and more credit.