Helping daughter out of debt

Date: Thu, 05/31/2007 - 14:21

Submitted by anonymous
on Thu, 05/31/2007 - 14:21

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Total Replies: 1

Hello, I came across this group while searching for help. My daughter and husband has racked up major credit card debt while they were not working. They have 4 year old twins. Husband cannot keep a job but daughter went to school and now has a decent job but it still isn't enough. She had been paying child care while husband looked for work. They don't live near me. I advised taking kids out of day care so currently Dad is caring for them but he is not happy about it. Unfortuneately they don't start kindergarten for another year. I know all their debt, income etc. and I am sorting it out. I will be writing letters for her. I look forward to reading the forums and other useful advice here. I feel confident daughter has learned a lesson and she will be divorcing when she financially can but currently just can't do it.
Any suggestions helpfu. I am taking this on as she is basically a single mom of "3" kids and needs help.

Welcome to the Community :D Believe me, I know all about grown

Welcome to the Community :D Believe me, I know all about grown kids and their debt! First of all, you say you are writing letters for her-to the bill collectors? They will not give you any info unless she gives her permission,I tried that-just a heads up! There are many solutions, debt consolidation being one of them. They take all her unsecured debt into one monthly payment, with lower interest. If she hasn't contacted her creditors yet, she may want to find out if they will work with her. I had one or two work with me when I told them I wanted to pay this off, but with the interest and fees, I couldn't, so they dropped interest and fees and I made a comittment to pay. I don't think a consolidation company will work with you on her bills, she,at some point will have to be involved. If you have any questions, please ask. There is also a sign up for free credit counseling on this site, and they can give her some answers and maybe some solutions to her debt problems..Good Luck..KAren

lrhall41

Submitted by Bossy4455 on Thu, 05/31/2007 - 14:31

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