Back to question Answer 1 of 2See all answers

Discuss LindaRuth's answer to: 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 ...

LindaRuth Answered:

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).