Just found out the wife ran up some serious credit card debt

Absolutely the best piece of advice in the thread.

 

Not a good idea to risk your home. If you miss a credit card payment, not the end of the world. If you miss a home equity loan payment, you can lose your home. I have a friend that is CFO of a large corporation, and he has told me for years how insane he thinks it is to use your home equity to pay off CC debt. He’d always say, first two things you pay each month should be mortgage/rent, and the power bill. Everything else is secondary.

 

I'd actually say that the car payment should be first if you're scratching and clawing payday-to-payday.

You can live in your car, but you can't drive your house to work.

 

nah... you can move the car to a different spot. Cant do that with a house... unless its a mobile home!
Here is some refreshing financial advice...
https://twitter.com/WeAreCanProud/status/1589320065492856832

 

First bill you should pay every month is the blow dealer. Hookers will take blow as payment when you’re short on cash.

 

set up onlyfans for her...shes not comfortable with that? too bad...i am kidding about the too bad...but its a way to make extra cash, that may start paying quicker. theres no room for pride when youre at risk of losing everything.

 

Damn.

 

I hear that Only Fans takes 25% as a host fee off the top of all earnings.

Probably better to work at McD's for $15/hr.

 

My wife did this same shit and hid it.

We had dug her out of debt 5+ years ago and she had a fresh start.

Both of our names start with the same letter and my vision is shit and we use the same bank.

I get an "open immediately " envelope in the mail from the bank that I thought said my name and my account was maxed out at 10k and they were shutting me down for non payment. Was so pissed off thinking I was hacked the whole time I never noticed my wife's name at the top. (Wasnt wearing my glasses)

Unfortunately American women are hardwired to consume.

Amazingly I've never seen her use 1 coupon in almost 20 years.

Some people are just wired different

There's a reason I don't share any accounts with her or vehicles or the house. I put all of that on paper before the wedding. I hated to do that but history has this weird way of repeating itself.

 

"Cash me outside".

 

Just because it's on the internet doesn't mean it's true.

You think this chick is going to stand up and say this article is BS? Or any other celebrity for that matter?

Sorry, I don't believe any of that shit.

 

Ive got to wonder who the "fans" are with a pay per view gross of $25,529,080.78. Who gave her the $.78??
They are so thirsty they cant type www.reddit.com into a browser and see $25 mill worth of noods for free??

 

Yea and the craziest thing is she isn’t that great looking, at least in that article, and she is my type, from the couple pictures I did see.

If she can really make that kind of money, I have to say, more power to her.

 

There's a video interview from a chivette on thechive.com where she talks about her onlyfans page and admits she makes about $210,000 per month and doesn't post content daily. The girl is 38 years old and looked good for her age but was by no means a 10.

 

Not sure how your credit score is, but I just got 18mo 0% interest on a Chase Slate Edge... using it for the new HVAC system, but you can do a balance xfer to it I'm sure, just watch the fees.

Not sure about the mortgage option but it does seem sounds financially, just don't miss any payments!

 

CC interst is a killer. Get that debt into a lower rate asap. Balance transfer, home equity, signature loan, whatever...get the interest down.

Also selling some assets to lower the bill is good to.
Don't add new debt until this is paid.

Good luck.

 

OK I PARTIALLY agree with Venom but.... while she must own it you did it for better or worse so help. Make sure this is not something that will reoccur first. Then while interest rates will help they are not the fix. I would NOT put your house up. Instead look at cutting stuff and extra work. And when I say cutting I mean serious cuts. No eating out. Cancel cable. No netflix etc. Deep cuts to lifestyle can do more than interest rates. Oh and there is a ton of free stuff you can replace the cuts with. Walks in the park. A lot of dog events you can watch for free (help and you will make friends) Later volunteer at the races to help, etc. Camp in the back yard.

Sorry you are going through this but here is hoping the bad experience can bring you guys closer and be a big life lesson.

 

I agree that you need to cut interest down as much as possible. My credit cards always have 0% transfers and my bank is always sending me checks that I can use for a purchase with 0% for sometimes over a year. I'd be looking into that if it were me as well as the deep cuts in the spending habits. I also agree that you need to tell the kids as this can be a good life lesson for them as well.

 

Yeah, I certainly don't follow his advice on a day to day basis because I'm fiscally lazy. That said, the snowball method does seem to help some people out to get out of a hole.