My Bad Credit Biker Boyfriend Left Me With His Debt

“Dear Steve,

I had a bankruptcy discharge in 2008. My credit was good up until last year.

I was engaged and I got caught up in plans with my fiancée. I got a car, motorcycle and some credit cards and my name for his use. When we were together he was helping. We broke up and I have been footing the bills myself.

The car was repossessed and I can’t afford to pay the $13,000 owed on it. I don’t want to file bankruptcy again, but I don’t know what to do at this point. All the bills are costing me $650.00 a month. I want to be done with them.

Is it possible to negotiate with the creditors on a settlement? Is bankruptcy something I should consider?

Thank you,


Dear Kathy,

I would not be surprised if the reason you wound up with the debt in your name is because you had the better credit.

Interestingly, in my years of helping people with debt I’ve seen loads of women with bad credit boyfriends or husbands who wind up being the ones on the hook for the new credit. Sometimes the women have even told me they did it to keep the guys around.

Relationships and money are very curious and perplexing arrangements. It is very common for a saver to attract a spender. After all, opposites attract, right?

I don’t know enough about your situation to know if you can dig yourself out from under the remaining debt. At the very least you don’t sound as if you can afford to pay the $13,000 left on the car. Who knows how much you’ll owe when/if the motorcycle is repossessed.

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

It is possible to settle with creditors but the key is if you can afford to or if the creditors will accept payments over a long period of time. You’d have to try to negotiate or hire someone to negotiate a debt settlement arrangement for you.

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On the bankruptcy front it is always an appropriate solution to get a legal fresh start from an impossible financial position. You’ve been through the process before and know it is possible to rebuild your credit.

Maybe this recent experience has been another one of those teachable moments and life lessons to know what to avoid doing in the future. No more boyfriend debt in your name.

Ultimately the best decision here is going to be one based in math. If the current debt is unaffordable for you and you are not able to save for the future and retirement, that is a worry. You should not sacrifice your future retirement income for a current mistake.

Want to see how costly dealing with that debt now can be to your future? Use the calculator below.

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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