Comments on: Helping Family Out Financially http://www.outofdebtagain.com/2008/02/helping-family-out-financially/ ...we did it before, we can do it again Thu, 11 Mar 2010 04:17:08 -0800 http://wordpress.org/?v=2.9.2 hourly 1 By: My Sister’s Buying a House | Out of Debt Again http://www.outofdebtagain.com/2008/02/helping-family-out-financially/comment-page-1/#comment-1286 My Sister’s Buying a House | Out of Debt Again Wed, 15 Jul 2009 11:10:58 +0000 http://www.outofdebtagain.com/2008/02/helping-family-out-financially/#comment-1286 [...] is my sister with the bad credit problem.  She says the lending company told her her credit rating is 765, and has nothing to worry about. [...] [...] is my sister with the bad credit problem.  She says the lending company told her her credit rating is 765, and has nothing to worry about. [...]

]]> By: T-Mobile Made Me An Offer I Couldn’t Refuse | Out of Debt Again http://www.outofdebtagain.com/2008/02/helping-family-out-financially/comment-page-1/#comment-1187 T-Mobile Made Me An Offer I Couldn’t Refuse | Out of Debt Again Fri, 12 Jun 2009 11:49:15 +0000 http://www.outofdebtagain.com/2008/02/helping-family-out-financially/#comment-1187 [...] started with Voicestream back in 2001 - for my sister.  She needed a cell phone and didn’t have the credit to qualify for the line in her name.  [...] [...] started with Voicestream back in 2001 – for my sister.  She needed a cell phone and didn’t have the credit to qualify for the line in her name.  [...]

]]> By: Mr. Debtbeater http://www.outofdebtagain.com/2008/02/helping-family-out-financially/comment-page-1/#comment-31 Mr. Debtbeater Fri, 22 Feb 2008 05:11:00 +0000 http://www.outofdebtagain.com/2008/02/helping-family-out-financially/#comment-31 I think it's time you went over there and set up an automatic bill pay for her so she can't just put it off because she doesn't get around to it. I'm actually in the middle of a class at church for setting up boundaries for children, but they apply to siblings, elders, and peers as well.<br/><br/>To answer the question "what would I do" it would have to be removing you from the equation for being the middle-man. Take some time to make the transition, help her get going and explain how it's going to work, but don't continue being the buffer. I think it’s time you went over there and set up an automatic bill pay for her so she can’t just put it off because she doesn’t get around to it. I’m actually in the middle of a class at church for setting up boundaries for children, but they apply to siblings, elders, and peers as well.

To answer the question “what would I do” it would have to be removing you from the equation for being the middle-man. Take some time to make the transition, help her get going and explain how it’s going to work, but don’t continue being the buffer.

]]> By: Mrs. Accountability http://www.outofdebtagain.com/2008/02/helping-family-out-financially/comment-page-1/#comment-29 Mrs. Accountability Thu, 21 Feb 2008 02:17:00 +0000 http://www.outofdebtagain.com/2008/02/helping-family-out-financially/#comment-29 Hi Zachary, actually I carried her for THIRTEEN YEARS on her land line phone, which she only recently got transferred into her own name (this is because one phone company monopolized the options until the past couple of years). She does always pay, she just waits 2-3 months between making a payment. When we didn't have any credit card debt, I paid the bill in full. When my cards started piling up, I started passing the interest on to her. <br/><br/>She's *three* months late currently (even though the phone is $50/month there are additional charges like taxes, etc., and one month she went over her minutes), and you are right... it's not out of the question to imagine her being 3 months late for all three phones. <br/><br/>Thanks for your input! Hi Zachary, actually I carried her for THIRTEEN YEARS on her land line phone, which she only recently got transferred into her own name (this is because one phone company monopolized the options until the past couple of years). She does always pay, she just waits 2-3 months between making a payment. When we didn’t have any credit card debt, I paid the bill in full. When my cards started piling up, I started passing the interest on to her.

She’s *three* months late currently (even though the phone is $50/month there are additional charges like taxes, etc., and one month she went over her minutes), and you are right… it’s not out of the question to imagine her being 3 months late for all three phones.

Thanks for your input!

]]> By: Zachary Spencer http://www.outofdebtagain.com/2008/02/helping-family-out-financially/comment-page-1/#comment-28 Zachary Spencer Wed, 20 Feb 2008 18:23:00 +0000 http://www.outofdebtagain.com/2008/02/helping-family-out-financially/#comment-28 I would say no. By this time, she should have enough credit to get a plan. You've carried her for a year, now it's time to make sure she's responsible on her own.<br/><br/>If you make that decision, be prepared to write off the $250 she owes you.<br/><br/>I think this is an instance for "tough love."<br/><br/>At this point she's asking <b>you</b> to pay for her and her kids cell phones. This is the tune of ~$150 a month expenses without guaranteed reimbursement. She's already 5 months behind @ $50 a month, think of how this will be if she were 5 months behind @ $150 a month! I would say no. By this time, she should have enough credit to get a plan. You’ve carried her for a year, now it’s time to make sure she’s responsible on her own.

If you make that decision, be prepared to write off the $250 she owes you.

I think this is an instance for “tough love.”

At this point she’s asking you to pay for her and her kids cell phones. This is the tune of ~$150 a month expenses without guaranteed reimbursement. She’s already 5 months behind @ $50 a month, think of how this will be if she were 5 months behind @ $150 a month!

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