Need help

[Pipefighter248]

Just a little background.
I'm 24; wife 23. Married for 3 years in Aug.
Expecting our first born; also in Aug.

Now to the story.
Before we got married my wife's parents had a hard time financially.
They and my wife got 2 credit cards in my wifes name to pay bills and such during those times.

Fast forward to todays times.
After just finding out in Feb. or March this year, after my wife lost her job. I'm fed up with it. I know the reason that my wife done it; to help her parents out during their hard times, and I respect that.
But now, being a single family income, with a child due soon, it just pisses me off.
My wife has been paying on it when we were dating, and until March when she lost her job and had to tell me about it. So that's 2 years and some odd months that she has already been paying out of our income, and at least $500 since she has been off.

CC #1 is up to $5500; CC #2 is at $3000.

I don't feel that because of her parents hard times that I should be the one to suffer and have to pay for her parents debts; when I have a young one due in Aug.
I don't have $8500 to spend on this.

Her parents "supposedly" tried to get a loan today to get it out of my wife's name but was denied.
Her mother offered to pay $200 a month on it.
I'm sorry, I can't have the chance of losing everything I've worked my ass off for; for min. of 4 years if they do that.


Why does someone that always tries to be good and help out others always get ran over and screwed all the time.

So does anyone have any advice that could help me.
This #### is just tearing me up on the inside right now.



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[Pipefighter248]

Sorry, posted in the wrong forum.

 

[onerabidshark]

dude first thing first go get them CCs Its not your or your wifes responsibility to support them if you had the money fine but with little one on the way and one income you'll have to cut it off, but you need to set down and discuss the options with the wife, cause you know she's gonna be upset if you don't, she'll see where you are coming from good luck Ricky

 

[Pipefighter248]

I have spoke with her.
She says she agrees and knows completely where I am coming from.
She says that I have given up so much already.
Got married sold a mint Ram air Trans am.
Baby on the way; Sold the Busa.
I don't have anything else to get rid of.

The way I feel it, is that her dad needs to step up and be a good time man.
I can't see the way that any father could put this on their child and still look in the mirror or face them.

 

[Pipefighter248]

Also, the CC's was frozen when we got married.
So they are not accesible right now.

 

[umairhashmi]

Your best bet is to make sure the minimum payment is made every month no matter what.You dont want to mess up your credit thats for sure.But make her parents give you 500 bucks or so every month for that debt.Thats the one reason i ALWAYS tell people never to co sign for ANYONE.I dont care if its your wife,son or cousin.Somethings goes wrong and your relationship with that person as well as your credit get ruined.

 

[rubbersidedown]

Sorry, posted in the wrong forum.

No worries,get your wife to phone and cancel the cards. Going over and getting them will just add to the tension.

Move slowly and cautiously.Ripping the cards outa their hands will most likely lead to more heartache.

Anyone who racks up credit cards in someone elses name,may be hard to extract the cash from.They may use it as an excuse not to pay. Not dissin'g yer Inlaws,just trying to help.

A small claims court may be where it ends up,you may win,but in the interim,you and your wife will be on the hook for the monthly payments.

I would not let this drag out.I would pay the cards off as fast as possible. If you dont the debt will only grow,a debt which enevitably you may be on the hook for.

DONT pay the monthly minimum. Thats a road to nowhere.

Also,find out what they bought. If they bought a big screen TV or a car....return it or reposses and sell it.


Hard a$$ advice I know. You my brother have more important things to attend too.



Don't they work?


Rubb.

 

[Pipefighter248]

I don't think I have to worry about my credit.
My credit is excellant and this is not showing on it.
My wifes is already to messed up right now to worry about.
The thing I am worried about if they don't make the payment and I forget to check for a while that they come and try to take our estate or such, since it is still in my wife's name and social.

 

[jessup]

The parents need to step up and pay that sh@t off. Very cool of your wife to try to help but extremely unfair that you have to bear the financial burden as a newer member of the family. Unless they are unable to work... They should start paying...
I'm sure someone on the board knows of one of those credit card consolidation places that is good. They consolodate your cards... minimize your interest rate and set up a payment plan.

Congrats on the little one and I hope you get your house in order. Seems to me you have already made some sacrifices... Paying someone else's debt should not be one of them.

 

[rubbersidedown]

If you and your wife have separate financial files,and hers is already fugged...let her parents make the payments(ask for receipts) and if they dont make them,she could always get a credit counciller to take over,or claim bankruptcy.

 

[Pipefighter248]

Sorry, posted in the wrong forum.

No worries,get your wife to phone and cancel the cards. Going over and getting them will just add to the tension.

Move slowly and cautiously.Ripping the cards outa their hands will most likely lead to more heartache.

Anyone who racks up credit cards in someone elses name,may be hard to extract the cash from.They may use it as an excuse not to pay. Not dissin'g yer Inlaws,just trying to help.

A small claims court may be where it ends up,you may win,but in the interim,you and your wife will be on the hook for the monthly payments.

I would not let this drag out.I would pay the cards off as fast as possible. If you dont the debt will only grow,a debt which enevitably you may be on the hook for.

DONT pay the monthly minimum. Thats a road to nowhere.

Also,find out what they bought. If they bought a big screen TV or a car....return it or reposses and sell it.


Hard a$$ advice I know. You my brother have more important things to attend too.



Don't they work?


Rubb.

Cards have been canceled.
The account with the lower amount has the interest frozen and all, so it's 0% right now.
The higher amount the creditor will not do the same thing and it's still accuring intrest.
I would love to get the cards paid off, but I just can't do it.
I recently got out of cc debt myself by selliing the bike, to be better prepared for the young one. But now this is biting me in the ass.
Supposedly all that the cards were used for was to pay the bills and such.
As nicely as I could put it, is that they don't have much, if you know what I'm saying.

No work, they are both on disability.
Don't know how much they make.

 

[rubbersidedown]

Slid over to Random.

 

[Pipefighter248]

The parents need to step up and pay that sh@t off. Very cool of your wife to try to help but extremely unfair that you have to bear the financial burden as a newer member of the family. Unless they are unable to work... They should start paying...
I'm sure someone on the board knows of one of those credit card consolidation places that is good. They consolodate your cards... minimize your interest rate and set up a payment plan.

Congrats on the little one and I hope you get your house in order. Seems to me you have already made some sacrifices... Paying someone else's debt should not be one of them.

+100

Don't get me wrong fellas.
I love to help people out in any way that I can, I would help them financially before this if I could.
But I don't feel that I have to sacrifice for the troubles they have had in the past.

 

[Pipefighter248]

If you and your wife have separate financial files,and hers is already fugged...let her parents make the payments(ask for receipts) and if they dont make them,she could always get a credit counciller to take over,or claim bankruptcy.

They are seperate.
The addy on the files is still over at there house.

The only thing that I am worried about is someone trying to come and take our estate, since it is hers also.
I will not lose everything over someone else's #### ups.

 

[rubbersidedown]

Sorry, posted in the wrong forum.

No worries,get your wife to phone and cancel the cards. Going over and getting them will just add to the tension.

Move slowly and cautiously.Ripping the cards outa their hands will most likely lead to more heartache.

Anyone who racks up credit cards in someone elses name,may be hard to extract the cash from.They may use it as an excuse not to pay. Not dissin'g yer Inlaws,just trying to help.

 A small claims court may be where it ends up,you may win,but in the interim,you and your wife will be on the hook for the monthly payments.

 I would not let this drag out.I would pay the cards off as fast as possible. If you dont the debt will only grow,a debt which enevitably you may be on the hook for.

 DONT pay the monthly minimum. Thats a road to nowhere.

Also,find out what they bought. If they bought a big screen TV or a car....return it or reposses and sell it.


  Hard a$$ advice I know. You my brother have more important things to attend too.



 Don't they work?


 Rubb.

Cards have been canceled.
The account with the lower amount has the interest frozen and all, so it's 0% right now.
The higher amount the creditor will not do the same thing and it's still accuring intrest.
I would love to get the cards paid off, but I just can't do it.
I recently got out of cc debt myself by selliing the bike, to be better prepared for the young one. But now this is biting me in the ass.
Supposedly all that the cards were used for was to pay the bills and such.
As nicely as I could put it, is that they don't have much, if you know what I'm saying.

No work, they are both on disability.
Don't know how much they make.

I feel for ya Dood. How did they live b4 you and your wifes credit cards came along?

 

[Pipefighter248]

Her dad used to work construction.
Had to quit cause of his knees.

 

[nitrousjunkie]

Nathan,do her parents still work? You need to paying more than the minimum to get anywhere with the balance on the cards,I would try to polite but ask them for something to sorta insure they will pay,like a car or 2,its time for them to step up and act like the adults they are,if they dont,small claims is your only way to get anything,things like this will take their toll on you as a family so be prepared for it.



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[BusaCruise]

minimum payments until you can get a CC counselor to work with the parents. That will help freeze payments/interest on the account.....
unfortuntely you marry a persons debt when you marry them...whether by cosign or any other.
until it's settled, pimp out grandma and granpa should be on hands and knees giving you a pony ride to work everyday.
just have to guilt trip pappy until he wakes up....hope it comes sooner than later.

perhaps walmart could use a couple of new greeters

 

[Pipefighter248]

Nathan,do her parents still work? You need to paying more than the minimum to get anywhere with the balance on the cards,I would try to polite but ask them for something to sorta insure they will pay,like a car or 2,its time for them to step up and the adults they are,if they dont,small claims is your only way to get anything,things like this will take their toll on you as a family so be prepared for it.

No Paul.
Both are on disability.
I know about the family part.
That's why I'm trying to be cool headed around the wifey.
Don't want no more stress on the baby, and I do understand this is still her parents.

I never want to do anything to hurt her or lose her, but I feel something needs to be done to make this right.
I love my wife with all my heart and would be lost without her.

He needs to step up and be a man.

 

[Pipefighter248]

Thanks fellas.
I'm getting off for a bit.
Just need to get away from the computer.
Keep the advice and all coming; I need it.