RE: debt treatment of women credit card.?
My friend (who is frugal but not cheap!) Just found out that his wife accumulated credit card debt of 60k-100k. His house is paid as his cars, his perfect credit. I do not think they have bad credit again. I think most if not all cards are in his name. He has over 25k in cash and maybe 25K in his control. He wants to fix the problem of credit card to them before divorce, he has a good hospital board. If you have experience with this, what are her best options? His wife is a retired teacher. I fear that if he mortgages his house and his name connected to the mortgage again, she can get into more trouble. They wouldnt do this on purpose to be mean, but somehow I feel when you get out of trouble, you are not a simple lesson. I think it would be better if he could pay half of their debt and it goes back to work to pay the rest (after obtaining a loan in their name for it) Please help! If you are under 63 years.