<prompt> Human: Parents cant get approved. Theyre credit is terrible. Ive taken over their finances and Ive come to the conclusion that I need to give them a 20k loan. They will definitely pay me back. I have a credit score around 700 and only have 12k debt from a car loan and i make 72kyr steady. Any advice would be appreciated. Thanks  <response>: Why would you come here asking for financial advice and completely ignore every reasonable response here.If you had 20k of your own money to give them never consider it lending, thats almost never the case then it might have been a tough decision. However this is not the case. Youre considering taking out a loan on your parents behalf. THIS IS A HORRIBLE IDEA. I cannot stress that enough. Taking out a 20k loan to aid the debt of someone else when your salary is 72k a year and youre already in debt is financial suicide. You parents have made some bad decisions. At the end of the day, they need to deal with those decisions and face the consequences. If you give them the money to pay off the debt I can guarantee you that theyll be in the same situation down the road from now. The fact that theyve already declared bankruptcy in the past just goes to show that. 