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Did a spouse or family member get you in debt?


Carson
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Has there ever been a time where someone close to you, caused you to go into debt? Maybe it was a family member who didn't work and lived off of you for a while? Or maybe it was a spouse who racked up credit card debt or gambling debt. Or maybe you have a child who racked up a bill on a popular video game. Has anyone in your personal life caused you to go into any form of debt? Did you get it figured out? 

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Yes and no. 

My mother had talked me into signing up for a credit card and at the time, I only qualified for a $200 limit. I was fine with this but she talked me into doing a shared credit line with her so I could get a $1,000 limit for my first card. She thought she was doing me a favor. I hardly used it. When it came time where I needed it for a car repair, I found out she had been using it and owed nearly $900 of the $1,000 limit on it. I ended up having to open a second card to get my car fixed and lost my job a few months after that. She was struggling with her own debts which I was not aware of at the time so I couldn't expect her to pay off her debt. I ended up removing her name from it and eating the credit score hit for her.

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Back when my family was first starting out I was the one that was not responsible with the cash and my gambling and drinking problem constantly had our household in a state of stress. My wife said those were some of the darkest years of our lives. So my wife was going into debt because of me. Eventually I got myself figured out and dug out of the hole to the debt free life we live now and happily manage the household finances just like I would any business finance. 

So we got it figured out but my wife says those were some stressful years. I am lucky she stuck with me and supported me during those trying times. I do not know if I would have extended the same faith in someone coming out of that hole. Guess that's why we are still together because we make a great team in life. 

She has a sign hanging up in the living room. "Behind every great man is a women rolling her eyes" haha 😛 

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I was trying to help out my half brother years ago. He needed month as he was in between jobs. I allowed him to use a credit card to get things as he needed it like food and what not. He had savings so he could pay the bills but nothing for food. He ended up maxing out the card and blowing through his savings. I ended up having to pay off a $3000 credit card that I never got to use!

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  • 4 weeks later...

Yes, i paid for my cousins school fees with the hope that when she gets employed she will pay me back. But now she got a job and she has never prioritized paying me back. She only paid me 0.01% of the cash when i told her i was in a financial fix. But since then she kept quite. She is living a lavish life, and has received a promotion and a raise at his workplace. I Decided to let go of it as a bad debt! Am still repaying the loan i too for her!

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