I got an e-mail from my mom last night. She wants to write a check to pay off one of my credit cards. :oogle I have 2 plus my car that I still owe a lot on.

The card she wants to pay off has a balance of over $10,000. I just can't believe it. That she would want to help me get rid of that credit card.

I want to say yes and then worry about paying her back when I have a job, but at the same time, I feel awful. I asked her to help me cash in some savings bonds that I have had for many years, and she offered this instead. She wants me to use my savings bonds towards my car. :dunno

I'm excited but sad all at the same time because I'm almost 25 years old.l I shouldn't need help like that from my parents anymore. I think because it was my horrible ex that caused the debt, she wants to help me so that I can erase him completely from my life. She hates him. With a burning passion. So does Dad.

I don't know what to think but I know I am more than grateful. :yes

Wow.

I think that is just fantastic of your parents to help you out. The key thing is they want to help you.

:hugs it's nice your mom wants to help you pay that off. definitely got your back :)

OMG Thank you for this post. I don't want to admit it, but I am 29. I am $22,000 in credit card debt and working two jobs while db is in Iraq (also partially because of my ex who MY parents hate with a a passion). They (my parents) still own MY car. I feel OLD and was feeling so down. (Yes you are 5 years behind me but it still makes me feel better). I cannot thank you enough and wish I had more words of encouragement.


At least I can encourage by saying, you are not almost 30!

Awww.... that's really neat of your parents.

If they can do it, let them. It sounds like they really want to help you get in a better place. You can always find ways to make it up to them later on when you're doing better.

:hugs

assuming that you have a healthy relationship with your parents.....if they can do it, go for it. if nothing else, you can plan to get a loan in the (distant) future when you've paid everything else off, with a lower apr to pay them back with to build your credit back up. Or make monthly payment to them as soon as you can afford it.
in my family, my parents would hold something like that would be held over my head for the rest of my life, so I wouldn't take the money. But thats another can of worms.

assuming that you have a healthy relationship with your parents.....if they can do it, go for it. if nothing else, you can plan to get a loan in the (distant) future when you've paid everything else off, with a lower apr to pay them back with to build your credit back up. Or make monthly payment to them as soon as you can afford it.
in my family, my parents would hold something like that would be held over my head for the rest of my life, so I wouldn't take the money. But thats another can of worms.

My mom wouldn't hold it over my head but I know my dad wouldn't hesitate to comment if my SO and I decided to buy a house or something before the balance was paid off. My mom said, "I'll take it out of my equity line of credit so that there will be a record of it if you are ever in a position to pay it back." So, it sounds like she is just genuinely offering the help.

But everything you said crossed through my head half a dozen times after I read the e-mail. This just means I won't be able to ask for money for a wedding later this year. I think that DB and I can suck it up and cough up some money if we want it that bad. :)

Wow.

I think that is just fantastic of your parents to help you out. The key thing is they want to help you.

:tu

I'm also in a significant amount of debt because of my deadbeat ex... and I'm 25 and living on my own- things are just insanely expensive, and though I'm paying it off little by little, it's a constant struggle.

If your mom is offering you help- take it. But I would make a small, by consistent pay back plan, like maybe as small as $20 a month... just to show that its a LOAN, but you intend to pay it back. This way you can focus more money on your other cards, but show your mom that you appreciate her help and aren't taking advantage... plus it might keep your dad from commenting.

Trust me, I'm VERY much in the same position as you- and I would love some help...

take it and tell you mom how much you love her.

I think it is awesome that they are offering to help and I would let them help! My parents have helped us out a TON with getting out of debt.

I would say take her up on it and write out how you plan to pay her back. She can always tell you she does not want the $ in the future. If she wants to help out and it won't put her in a bind then I say do it. Oh another qurstion...would she hold it over your head? MY ex MIL did that:no

That's wonderful!! I would totally take it. It's your mom, she loves you. Don't rob her of a blessing!

Wow what a cool mom

wow...that is awesome of your mom....

I have been bustin my butt this last year to get myself out of debt...I have about 2,500 as we speak...hopefully I will have it paid off by the time DB and I get married...

That's cool, though no way in hell would I let my parents take out an equity line to pay off my debts. However, if your parents are wanting to do that - their $$, their choice!

Your mom loves you and would do anything to see you ok. If you KNOW they can do it and know they will be comfortable financially even after that then I would say sure and pay them back as I can but if you are not sure how this will put them financially then I would say no. Good luck!

My parents recently offered to do something similar to help with house renovations (over 5K). We're still young enough that we don't have a ton of cash in the bank, so they told me they would lend us the money just as their parents did for them when they were first starting out. If you know it's truly a gift, take it, parents always want their children to do well and if they're in a position to offer, great. If there's a chance there may be repurcussions down the line, draw up a spreadsheet or something detailing monthly payments back to your mom. You decide the amount and the timeline, but it's an offer of trust to your parents that you'll accept the offer but will honor a payback if they wish. We did this with my folks and paid them back at the same interest rate they would have been making in their savings account, which wasn't a high rate. In my book, if there's any doubt there will be hard feelings down the line, this is the best way to go accepting money from family. Chances are, even if you start to pay it back, at some point, they'll write off the balance as a wedding present or something.