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I Haven’t Been Honest With My Wife About Our Debt. – Brad

“Dear Steve,

Married 8 years
Two Kids

Wife was home on Maternity leave in 06. I was mortage broker. Wife does not handle money stress well at all.

Money was tight.

I used credit cards and HELOC to meet bill obligations.

Have about 55k in debt wife does not know about.

She has recently started her own business and I am self employed as well.

I really want to keep her from the stress, but it’s starting to ride on my nerves and conscience…

…to add fuel the the fire, she thinks there is about 25k in the bank. There is about 11k.

Just writing this makes me look at myself differently. I’m a great dad. I treat her really well. I Do everything I can to make all happy, but this big 900 pound lie is hiding inside my mind.

Any thoughts or advice are appreciated.

How do I tell her about this debt?

Should I tell her?

Have you seen a successful resolution of a scenario like this?

I don’t even know how she would react.

Do You Have a Question You'd Like Help With? Contact Debt Coach Damon Day. Click here to reach Damon.

I sometimes think she would want a divorce.

Thank You,

Brad”

Dear Brad,

I think this video I did earlier covers this topic with advice that will help.

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  • How do I tell her about this debt? Watch the videos above and below.
  • Should I tell her? Yes, you really don’t have any other choice.
  • Have you seen a successful resolution of a scenario like this? Yes. Mine did.
  • I don’t even know how she would react. She’s going to be pissed off.
  • I sometimes think she would want a divorce. If you come up with a plan on how to deal with this and you are honest with her, then I don’t think it will end in divorce.
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Please post your responses and follow-up messages to me on this in the comments section below.

Damon Day - Pro Debt Coach

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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.
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