No. of Recommendations: 0
Just like to say that I think you should keep paying the CC with money borrowed from others until they can't do so any more BUT ONLY THE CC's. My reason being that otherwise you're going to be racking up all sorts of late payments etc, well over the amount of debt increase paying one from another will get you.

BUT this only applies if you do whatEVER it takes to get the rest of your spending down below your income (not including overtime) especially getting rid of that darn car payment but including eating rice & beans (all 7 days), wearing 10 sweaters, no cable etc. IMO even overtime should go toward CC payments (or emergency fund) only since you apparently can't count on it. Then once DH gets a job you can raise the standards a bit while you pay down the CC's.

Really, it's one thing to say lets wait and see if he's just been out of work a short time but after 6 months its time to make drastic changes!

I definitely sympathize with you though - if my DH was out of work (or myself) I'd be for cutting back big time and DH would be saying it won't be for long :(

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.