Seriously in debt and living in fear?

Question

What are the chances of a couple lasting that are seriously in debt? They have already broken up 3 times in 6 years. They both owe 7 years back payment in taxes plus 60,000 dollars each on other loans. They have no assets and live in a studio. They are 28 and 29. What do you think their chances of lasting as a couple and having children? They can barely pay the interest off the debt and are hiding from the authorities by living in a sublet. They don't have their name on their letterbox and cannot put on the light at night for fear of debt collectors. Yes, they went on a expensive holiday they put on their credit card last week. The leasing company is coming this week to take back both of their cars. Do you think their relationship will last with all the stress? What do you think the chances of them staying together are?

Answer 1

You want the truth.. this is an opportunity for them to understand the reality that money is just a game, that money is  just pieces of paper created out  of thin air . When they learn this, their relationship will be 10 time stronger.

I suggest, they stop hiding from the creditors and do the following...

**Now i am by no means a lawyer or some official authority... i am giving you my opinion... they can do as they wish...

1- As for the debt they have that it is unsecured like credit cards and such , they can forget about them.. They have nothing... so an unsecured creditor is not going to sue you unless they feel like wasting money, because unless they filed for bankruptcy within the last 8 years, they can do now and wipe those debts clean. So those calls from unsecured creditors are just hot air, scare tactics to get you to pay them.

2- Back taxes-- the IRS has much more power in collecting, but again, if they have nothing then, call them and tell them that, and prove it.  Setup a payment plan with them and move on. The money they save on not paying the unsecured creditors will probably suffice to maintain a small payment to the IRS.

3- Car repossession and secured loans-- well give them there property and call it a day.

4- File chap7 bankruptcy and start over again. Hey this is a game. The banks and financial institutions already made their money a long time ago. This is business, not personal. Once you go through Chap 7 you can start rebuilding. Their credit will actually get bettor because  lending them money would be a less of a risk after bankruptcy. You can only file once every 8 years.

Most people will call them irresponsible and some will call them criminal but if they understood how the money system really works in this country, maybe they would see who the real criminals are. The video below may help them handle this situation with some dignity.

Good luck

Answer 2

If you are seriously in debt, then how can you afford the Internet?

Borrowing money that you know that you cannot pay back is fraud, and it is dishonest. I think that the relationship is in serious trouble since both people are criminals.

Answer 3

i don't have any advice regarding relationship, but if you want tips on how to settle debts effectively, try this site: www.creditscore.pro

Answer 4

As reckless as they sound I don't think they will try to make the relationship last.  

Answer 5

It confuses me that references in here are from the UK (letterbox, holiday) yet the taxes are in dollars, but I'll try this one out anyway.  If in the UK, you/they should file for IVA (insolvency) and be at the mercy of the courts.  Granted you won't have anything you/they can call your/their own, but this will relieve most of the issues on hand even if it means garnished wages until the taxes are paid.  Use the metro to get to and from work and don't open any more credit until you have 5,000 ­­£ in savings.  If you are in the US, file Chapter 7 Bankruptcy and your wages at best will be garnished to pay the back taxes.  Again, you will have to have all assets liquefied to include vehicles in order to pay back the government.  Best of luck!

Answer 6

Something needs to be done here. I might suggest filing for bankruptcy or some debt consolidation or something.  You can't live like this, nor can a relationship. . . and kids, are you outta your mind?? Do you want your kids to have diapers?

Answer 7

Are you kidding? The taxes you owe (depending on the amount) are putting you in serious risk of going to court and jail. Total lack of responsibility and bad luck would probably not make this time a very good choice for parenthood.

The stress of the situation you are in would easily take away your s*x drive anyway. Whether or not you stay together is a choice. You really need each other as much now as ever.

The money you spent on the EXPENSIVE VACATION could have paid for a lawyer. Needless to say, you need a lawyer to assist in filling out bankruptcy papers and preparing a deal with the IRS.

Do you speak Spanish? Go to Mexico, if you can get a passport. Or Canada, if you can speak French and can get a passport.

This really is not funny. If you are not kidding, you will shortly be homeless.  

Answer 8

That depends on the two people.  But it sounds to me that they are way immature.  Maybe they need to get their acts in gear.  Otherwise there going to end up in jail.

Answer 9

i thought you said the leasing company was coming this week to take their cars 2 weeks ago,enough with the lame stories.

no it can't and won't last if u consider it to be a relationship anyhow,i know i don't and please leave the innocent child out of this equation til u are they can do better for your or themselves b/c i'm quite sure having a baby now will only add insult to injury,a baby is a blessing but to have one in this enviroment the baby will be cursed by irresponsible parents.

another reason to consider you or them irresponsible!

GOOD LUCK!

Answer 10

Poverty can break love but arguments can.

Answer 11

Most people separated because of money or lack of. Try this website http://www.stay-home-millionaire.com/c/s... it will help you or anyone else get out of debt real fast.  

Answer 12

I think that depends upon how well the understand each other. If they don't blame each other for the situation and make a positive efforts, they can stay together.

There can be only three options for them to save them from this situation. One is debt settlement or credit counseling or bankruptcy. But they should try debt settlement before filing bankruptcy. Might they could have some hope.