Need some advise, 3 years ago my ex-live in partner's brother ask me a favor to get a motorcycle under my name pero para sa kanya yung motor so madaling salita pinagamit ko yung panagaln ko para makapag-loan ng motor. So after ilang months nanakaw yung motor, i dont know the things na ginawa nila pero i know ngreport sila sa authorities for the incident. So March 1, 2014 i got an letter saying that i should pay the balance amounting to 100k plus! So ngayon ako ang hinahabol ng bank para bayaran yung motor nung tinawagan ko yung brother ng ex-live in partenr ko ang sabi nya wala syang pera ang site nakain dikit sa letter na kakasuhan ako and blacklisted ako sa all banks.
Questions ko:
1. Are there ways to tranfers the name of the loans para sya yung habulin ng bank hindi ako?
2. If the bank will file case against me what are the sanctions?
3. If they will include my name on the blacklist to the bureaus/credit scoring bodies all bank ba included dito or sa bank lang na nagloan sa pangalan ko.
Hope you can advise me sobrang hirap ng may utang ka tapos hindi naman sayo talaga.
Hope you can help me.
Thank you.
Francis