Stepson in Deep Debt - My 45 year old stepson called the other night asking for help. He is now $60k+ in credit card debt, mostly from being out of work during the pandemic and not living within his means. He is now back at work, making ok money, but he is drowning in minimum cc payments. His ask to us was to cosign on a consolidation loan. We refused, because he has really never handled money well (we gifted him some money during the pandemic as he had a horrible record of paying back any loan we have ever given him). We are retired and afraid of being responsible for the consolidation payment if something should happen to him.
What ideas should we give him to dig out of this debt? He rents and his rent is reasonable for a high cost area, he and his ex girlfriend share a child and they need to both remain in the same town. Car is paid off. We have suggested a second job to him, but is bankruptcy really the best option?
We are just so sad for his situation.
Berkshire is hoarding so. much. cash.
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
#ASX:ASN Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
