| xfering 1/2 my credit card debt to ex-boyfriend |
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drowning
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 31 Mar 2008
Location: New York
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| xfering 1/2 my credit card debt to ex-boyfriend |
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When I first met my boyfriend , I knew that he did not have good credit, so all purchases were made using my credit card. He was and is very good at making payments to me.
Due to some crazy spending habits on both our parts early on in the relationship, I have racked up $30,000 in credit card debt. My boyfriend and I are not together anymore, but he is still paying me a set amount every month towards my debt. He is even willing to assume 1/2 the debt, but a balance transfer to his credit card won't work because he doesn't have a high enough credit limit. Is there anything else that I might be able to do or am I just screwed and will have to continue to rely on him to make monthly payments to me.
My credit is now really bad and I want to start to rebuild this score, but I will be unable to if I can't get 1/2 this debt out of my name.
HELP!
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Mon Mar 31, 2008 7:22 pm |
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pf101
Senior Member
Cash: $ 62.25
Posts: 311
Joined: 12 Sep 2007
Location: Portland, OR
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You're pretty much screwed unless he takes out a loan to pay you back. You're lucky he's not leaving you high and dry.
Your score will come back, it will just take time. Concentrate on doing everything you can to get this paid off ASAP. You guys need to sit down together and come up with a goal payoff date and a payment plan that makes sure you're both paying more than the minimum.
I think it wouldn't be a horrible idea for him to transfer as much as possible into his name, just make sure that he'll keep making the payments. Get it all in writing, have it notarized and do everything you can to protect yourself because, if he feels like it, he could just stop paying tomorrow and you'd be hard pressed to make him pay anything else.
Personal Finance 101
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Mon Mar 31, 2008 9:27 pm |
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