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Article: Smart Money: ; Paying off your son's debt rewards his irresponsibility
- Article from:
- Charleston Daily Mail
- Article date:
- July 27, 2009
- Author:
CopyrightCopyright 2009 Charleston Daily Mail. Provided by ProQuest LLC. (Hide copyright information)
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DEAR BRUCE: My son has credit card debt. He quit paying a year
ago. The nonpayment, late payment and interest have now been placed
on the account over the original charges. A debt-recovery company
has purchased the default. The group has offered a settlement offer
for the original charges. This seems like a good opportunity to
settle this account. What steps should be taken to ensure this is
indeed a settlement and will close this financial fiasco?
J.D.
via e-mail
DEAR J.D.: While you didn't indicate that he hasn't done it
before, I'd be willing to gamble that he has. If you pay off his
debts, you're just rewarding his bad behavior. That having been
observed, since the debt-settlement ...