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A 41 year old man ran up $38,000 across four credit cards over 18 months, most of it spent on trips, jewelry, and dinners for a coworker he was seeing outside his marriage. His wife discovered the statements hidden in a separate mailing address he had set up, and she has since filed for divorce. Under the terms being discussed, he is expected to keep the debt in his name alone, since it was accrued for an affair she had no part in and did not benefit from.
With a divorce already underway and no shared income to lean on anymore, his best option is consolidating the four cards into one lower interest loan or working with a debt relief company to negotiate the balances down before legal fees and a new, single income household budget make the debt even harder to manage.
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Your credit score is costing you money and you might not even know it — SmartCredit shows you exactly what's helping or hurting your score and gives you a personalized 120-day plan to fix it.
A 41 year old man ran up $38,000 across four credit cards over 18 months, most of it spent on trips, jewelry, and dinners for a coworker he was seeing outside his marriage. His wife discovered the statements hidden in a separate mailing address he had set up, and she has since filed for divorce. Under the terms being discussed, he is expected to keep the debt in his name alone, since it was accrued for an affair she had no part in and did not benefit from.
With a divorce already underway and no shared income to lean on anymore, his best option is consolidating the four cards into one lower interest loan or working with a debt relief company to negotiate the balances down before legal fees and a new, single income household budget make the debt even harder to manage.
Don't Miss:
Your credit score is costing you money and you might not even know it — SmartCredit shows you exactly what's helping or hurting your score and gives you a personalized 120-day plan to fix it.
4 months ago
