Latest Posts
Home > Ask The Get Out of Debt Experts > My Husband Gets Collection Calls From Payday Lenders. He is Now Trying to Make Money With Herbalife. – Cindy

My Husband Gets Collection Calls From Payday Lenders. He is Now Trying to Make Money With Herbalife. – Cindy

“Dear Steve,

I’ve been married since 05 and we have all accounts separate due to his poor credit history. I thought this was a result of a divorce, but I am starting to think otherwise as he has bad spending habits and always runs out of money.

I have received calls from companies such as payday loans, fast cash and now cash call. Various credit card companies call to collect on his past due accounts. no checking, loans, utilities are in joint names. I have great credit and would like to keep it that way. Everything was in my name prior to our marriage. I have added a loan in my name for a vehicle for him to drive titled to me and an addition to the house, also in my name, since 05.

Cashcall just called my home to speak with my husband again. I thought that he was paying the remaining bills down since he lost his job in April 09. He has since joined Herbalife to start his own business. I have no idea how much this costs.

Can I be held responsible for any debt he owes through these cash advance companies? Is there a way I can find out how many of these loans he has been securing? It is causing a lot of distrust in our marriage and more debt than I know. He has used these companies in the past and I know the fees and interest are outlandish.

Cindy”

Don’t miss our free Get Out of Debt – β€œHow 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 Cindy,

Well hell yeah it is causing problems. And if you don’t take some action to intervene here this path will most likely wreck your marriage and lead to divorce.

In marriage, spenders tend to attract savers as partners. It is clear which person you are. The hopes of fundamentally changing him would be silly. The only way this thrill seeker, gambler, adrenaline junky is going to change is if he hits a financial bottom or you hold his feet to the fire and make him accountable.

Do you want this man to be your roommate or your life partner and husband? If you want more than a roommate then you need to gently sit him down and he needs to come completely clean with his financial affairs and you need to, together, order a copy of his consolidated credit report and credit score. Use the link, it’s the same one I use and love.

The credit report will give the two of you the best look at who he owes and since not every credit bureau reports all accounts, that’s why you need the 3 in 1 consolidated credit report.

Next, you need to find a way to encourage him to cooperate with you to develop a plan to begin to repay his debt. You absolutely do not use your money to do this. If you do you will only enable his piss poor money behavior.

You will need a plan to bring down the debt using the debt snowball approach. He needs to be accountable to you weekly on his progress.

The fact that he has jumped into Herbalife following his string of financial failures tells me he is more in search of the thrill of the chase of something new than accepting responsibility for his past financial transgressions.

Now, it might just be that he is so underwater in debt that we’ll have to look at a Plan B as a next step, but first find out what his financial reality is and report back.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

Big Hug!

My Husband Gets Collection Calls From Payday Lenders. He is Now Trying to Make Money With Herbalife.   Cindy
Get Out of Debt Guy – Twitter, G+, Facebook

P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.

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.

My Husband Gets Collection Calls From Payday Lenders. He is Now Trying to Make Money With Herbalife. - Cindy 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.