Latest Posts
Home > Ask The Get Out of Debt Experts > I Just Discovered My Wife Has $90,000 In Debt. – Jim

I Just Discovered My Wife Has $90,000 In Debt. – Jim

“Dear Steve,

I discovered that my wife has run up $90,000 in credit card debt. The minimum payments alone are $2,300/month. I have looked at one of the links on your website and they talked about debt settlement.

How does debt settlement work – is it for everyone? The site showed a $2,000 payment as settlement for a $17,000 BofA debt. Am I to assume a settlement of this type will affect our credit rating

Jim”

Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

The Answer

Dear Jim,

Sorry to hear about the unpleasant surprise. That really sucks.

Before we jump to solutions my first concern is that we inspect and address the reasons why she spent the money to begin with. Unless we tackle that there is a good chance this pattern will repeat again.

It may be she has a spending problem and there are a number of variations of underlying issues that result in hidden debt. but the debt is the symptom of a greater issue, not the problem itself.

So why was she spending?

Is the debt in her name alone? Is this joint debt? It makes a difference on how we proceed.

Post your answers in the comments and I’ll answer from there.

Debt settlement isn’t necessarily the right solution and you’d need more information from any debt relief company before you can make the right choices for you.

One step at a time my friend.

I am here to help.

Big Hug!

I Just Discovered My Wife Has $90,000 In Debt.   Jim
Get Out of Debt Guy – Twitter, G+, Facebook

If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

I Just Discovered My Wife Has $90,000 In Debt. - Jim by

Share This and Spread the Word

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.