Originated From
AOL Search

Getting out of debt

What recourse does a person have when they owe creditors but don't have enough money to pay?  My daughter got herself in a financial bind when she was in her 20's.  Her credit is not good.  Should I offer to help her pay these debts or have her borrow the money from me to pay them off and then pay me monthly?  Her history is not good about that, though.  She borrowed some money for a used car from her dad and paid just one payment to him. 

Liked this question? Tell your friends about it

2 Answers

Order by
Oldest to Newest
Newest to Oldest

You already know that your daughter does not pay her debts. So obviously you do not loan her anything. If you want to give her money as a gift you can do that, but I am not advising it. You don't want your daughter to think she can get off easy. You don't want to enable her bad habits. My best advice would be for her to go in for credit counseling and see what they can work out for her (such as lower interest and lower payments).


Wow, this is silly to ask such questions here. If you want and you have an opportunity to help then do it. Your daughter needs to learn not taking things for granted. First of all, tell her to connect all of her creditors, then order free credit reports to have a better understanding of where everything went wrong. Tell her to avoid using instant loans online as well. She might want to cover one of her debts. And good luck, of course!

Related Questions

Other people asked questions on similar topics, check out the answers they received:

Asked: What is auto financing?

What is auto financing?

Asked: I have heard of equipment financing...

I have heard of equipment financing. I would like to purchase equipment, suggest a good bank that can finance it.

Asked: I have a small sized business and am looking from ...

I have a small sized business and am looking from financing from a good bank. Please suggest what I should look for before making the choice?

Be The First To Answer

Other people asked questions on various topics, and are still waiting for answer. Would be great if you can take a sec and answer them

Ask a Question... We'll forward it to people who know

More Questions

Feedom Debt

Yes such companies are good they help you to get rid of debts. Many such agencies are there online, like bill consolidation , debt settlement etc. You can try out such things.

I am in debt for about 5000 im now unemployed i ...

You must consult with any debt management company. Debt Management has been designed specifically for people who can not afford their minimum monthly payments. The program works to reduce the total amount of debt and consolidate into a single affordable monthly payment.

Get back my screen \

Call 9 1 1.