Bad Credit Consolidation Loan

Posts Tagged ‘Fence’

Free at last asked:


Back Ground: She is 25 years old and got married two years ago. We put her through school paid 100% of their wedding and even gave them as a wedding present of 2 weeks in Hawaii for a wedding present. I like her husband kinda he always has a few smart things to say to us…on their wedding night he told me (while driving to them to the airport) that he wouldn’t be making the mistakes I made in life…I still don’t know what mistakes he is talking about to this day. But over all we have a good relationship with the both of them…and I love my daughter very, very, much!

The Problem:

They both work, my daughter in the medical field…but 5 Months ago her husband got a DUI and can’t work in his chosen field and has been forced to take a very low-paying job part-time (25-30 hrs a week). In reality their income has been cut by 60%.

Their Situation: They are expecting a baby in January ‘09, they came over last night and laid-out the situation. They are 3 Months behind on the house payment, 19K in credit card debt and getting deeper every Month, electric, phone, water all are past due, two car payments that are two months behind….around $1200 to bring them up to date.

Possible solutions:

(A) Ignore them and say………good luck kids!

(B) Make them a loan of $35K with a strick re-payment plan.

(C) Just give them the $35K-$40K and say….we love you and God Bless!

What would you vote for A, B or plan C

(Note:) My wife is 100% in favor of just giving them whatever they need to take the heat off of them….and NO pay-back. I’m on the fence, I’m am leaning torward just giving them the money.

We can very easily afford this….we wouldn’t even feel or miss the 40K that is not an issue.

thanks for your advice

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