This is a hard one. I am a big fan of supporting family, but there do have to be limits. I don't know if I would go so far as taking out a loan in your name, especially if that loan can only pay down part of his debt, and only enable him to make monthly minimums on everything else. Depending the total amount of his debts as well as his interest rates, making only the monthly minimums could mean he is struggling to pay off these existing bills for decades, since most of a monthly minimum payment goes straight to the interest rather than the principal.

I am also not sure what keeping him out of bankruptcy would accomplish. Generally, the goal of staying out of bankruptcy is to keep your credit, since bankruptcy completely destroys it. But if he is drowning in debt, not even able to make the minimums and does not qualify for debt relief, I would hazard a guess that his credit is already pretty bad. Filing bankruptcy might be the best alternative for him. He will be able to dig out from the debt that seems to be crushing him and the credit implosion means he cannot (easily at least) go back into debt for at least 7-10 years.

I say go ahead and help your brother although money is important for our day today living, we could always earn the money again, make a temporary adjustment with your expenses to help your brother is a noble deeds . If your brother future could be at stake here by all means help him. Not often you could show has much you care for your love one in this manner.

It depends on how he got in trouble. Bankruptcy is not such a big deal these days, and if he got into the financial trouble through his own stupidity or arrogance, it may be best to let him fall.

If you sign the loan, and he doesn't repay it, you will be forced to make the payments, which may end up putting YOU into financial trouble and on the verge of bankruptcy. It's never a good idea to lend to friends or family, as it almost never turns out well.

http://farm4.static.flickr.com/3162/3065610396_4b5391aa9f.jpg

I would be proud to help my brother if I could do it without endangering the basic needs of my own immediate family. I would put a limit on it, probably somewhere around $10,000. My brother is a great guy, and I know he would help me if I were in trouble. That's what families do. If he can't count on his own brother to help him, who can he count on?

In truth, my brother DID just lose his job at GM. He hasn't come to me for any help yet, but if he did, I would do whatever I could for him.

If I couldn't loan him money, I would offer to let him come and stay with us for awhile before I would see him going homeless.

I love my brother very much and I would do anything I could to help him.

The words to this song are so right on topic:
http://www.youtube.com/watch?v=C1KtScrqtbc