Credit issue/Credit Card/ Is it worth paying?

[SuperSix]

Stop being an enabler for his addiction. He has ruined you financially, father or not - press charges. It may be the only thing that "sobers" him up.

 

[Howard]

Dude. Jail is a fantastic place to be. Also, you don't want to pay that, right? Do the right thing and fucketh him who fucketh you.

 

[CRXican]

did they at least buy you something cool?

 

[kranky]

Have you weighed what would happen if you did press charges? Did you ask him if he would be OK with that if it removed the debt? It's not like he's going to go to jail. Some house arrest and mandatory counseling would be my guess. A lawyer could probably research what kind of sentences are handed out in cases like yours. Do you know for sure they will erase the debt if you press charges? What if he tells them he will assume responsibility for the debt and get it off your record? Will they do that?

Option 1 will take about 5 years to pay off. $24K in interest.
Option 2 will take a few months longer. $4K in interest. 12 years of having a negative account on your credit report (5+ years of payments, plus 7 more years from the last payment until it falls off)
Option 3 will be your worst nightmare, it's not really an option. They'll get a judgment against you and be able to seize your bank accounts or other assets you own (or may own in the future).

 

[DrPizza]

Talk to the credit card company. "Look, if you'll lower the interest rate to something reasonable, like 6%, then I'll personally pay it off. If you leave it at 28%, then go to hell. I'll file charges, and I know that the person won't be able to make restitution. You'll end up with next to nothing. Your choice.

 

[Evadman]

Originally posted by: SuperSix
Stop being an enabler for his addiction. He has ruined you financially, father or not - press charges. It may be the only thing that "sobers" him up.

Best advice in this whole thread.

 

[SmoochyTX]

Originally posted by: SuperSix
Stop being an enabler for his addiction. He has ruined you financially, father or not - press charges. It may be the only thing that "sobers" him up.

 

[oogabooga]

Originally posted by: Evadman

Originally posted by: SuperSix
Stop being an enabler for his addiction. He has ruined you financially, father or not - press charges. It may be the only thing that "sobers" him up.

Best advice in this whole thread.

Most sound advice for sure, and I hope if I'm ever in a situation like that I'd do it, but I can see it being hard for one to send their father to the slammer.

What a shitty situation.

 

[DaWhim]

well, what did your family member buy?

if you are ready for 7 years with poor credit, go for option 3.

 

[Leros]

Originally posted by: Evadman

Originally posted by: SuperSix
Stop being an enabler for his addiction. He has ruined you financially, father or not - press charges. It may be the only thing that "sobers" him up.

Best advice in this whole thread.

++

 

[Muadib]

Originally posted by: DaWhim
well, what did your family member buy?

if you are ready for 7 years with poor credit, go for option 3.

He didn't buy anything, he gambled it away.

 

[Japanac033]

Are you sure he is your family member?

In my family, he wouldn't be a family member any more lol

 

[RaistlinZ]

Why don't you just make your dad sell some of his own personal property to pay off the $30k?

 

[Reckoner]

How is your credit? Apply for some CCs with 0% BT offers. Rinse and repeat once a year.