Friend with huge, massive credit card debt.

  • Eldarwen
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Replied by Eldarwen on topic Re: Friend with huge, massive credit card debt.

He is still living at home with his dad, no assets. The car he drives is owned by his father. He does not collect any disability but does have a full time job with medical benifits. I don't think he has a 401k that he can borrow against. I think he is working on sueing the people who bled him dry. But who knows anymore.
11 years 3 months ago #1

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Replied by wildrage2 on topic Re: Friend with huge, massive credit card debt.

With 20k in credit card debt I'm guessing the minimum payments alone are somewhere between $500 and $1000 each month.

Being on disability drastically decreases his options...normally I'd tell him to get another job for a year.

Does he have any assets? A house?

Does he have a 401k that he can borrow against?

If I were him, I'd do anything I possibly could to get that debt down.

The interest must be insane...
11 years 3 months ago #2

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Replied by KMoney on topic Re: Friend with huge, massive credit card debt.

Ex-fiancee didn't bleed him dry she was trying to pay off her $3,000 credit card debt. It was an ex-girlfriend who decided that she wanted things for her and her boyfriend.


Do you think he can sue her?
11 years 3 months ago #3

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Replied by Eldarwen on topic Re: Friend with huge, massive credit card debt.

Ex-fiancee didn't bleed him dry she was trying to pay off her $3,000 credit card debt. It was an ex-girlfriend who decided that she wanted things for her and her boyfriend.
11 years 3 months ago #4

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Replied by KellBell on topic Re: Friend with huge, massive credit card debt.

I have a friend with $20,000 in credit card debt. He has a disability and let certian people (an ex-girlfriend and her then boyfriend) take advantage of him and told him to open up all kinds of credit cards for them to use. I told him that they were nothing but bad news and would bleed him dry. Thing is, his family told him as well. When he finally broke it completely off, he calls me and his now ex-fiancee to say he doesn't know what to do about his credit card debt and we said that we would sit down with him to find out how many credit cards that he has, how much he owes and how he can pay it off. He didn't like that because with both mentioned budget and someone helping him with a budget and keeping on him. He wanted us to give him a few grand each and having his dad give him some of his trust fund money to pay most of it off now. His ex-fiancee and I at the time and now don't have the money to give to him. I have my own troubles and want to pay off my $1,500 in credit card debt by May of 2009. I created a budget because I set a deadline and figured out how long it would take me. I know that it will take great discipline to do it, but my budget is not that evil and bad.

Anybody else go through this with friends or family?


Your friend's ex-fiace is a horrible person for doing that. I don't know what to tell you other than try getting the money out of her! :upset:
11 years 3 months ago #5

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was created by Eldarwen

I have a friend with $20,000 in credit card debt. He has a disability and let certian people (an ex-girlfriend and her then boyfriend) take advantage of him and told him to open up all kinds of credit cards for them to use. I told him that they were nothing but bad news and would bleed him dry. Thing is, his family told him as well. When he finally broke it completely off, he calls me and his now ex-fiancee to say he doesn't know what to do about his credit card debt and we said that we would sit down with him to find out how many credit cards that he has, how much he owes and how he can pay it off. He didn't like that because with both mentioned budget and someone helping him with a budget and keeping on him. He wanted us to give him a few grand each and having his dad give him some of his trust fund money to pay most of it off now. His ex-fiancee and I at the time and now don't have the money to give to him. I have my own troubles and want to pay off my $1,500 in credit card debt by May of 2009. I created a budget because I set a deadline and figured out how long it would take me. I know that it will take great discipline to do it, but my budget is not that evil and bad.

Anybody else go through this with friends or family?
11 years 3 months ago #6

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