Back To Blog

Family and Money Don't Mix

1 Minute Read

By Karey in UT

In 2003, I tried to save my brother from failure. He owned a backhoe that was about to be repossessed. My husband and I decided to pay off his tractor with our home equity loan account with the guarantee that he would make the monthly payments.

color

Local experts you can trust.

Find an ELP

The original $52,000 loan is now up to $85,000 with cash advances and interest! My brother made a few token payments at first, but that was not enough to even offset the cash we had advanced him. My brother has not talked to me in three years.

The lesson learned is that failure is okay, and if I had allowed him to fail, I would still have a brother and no debt. I will never again loan money to anyone again.

Don't let this happen to you! Learn more about how debt can come between your relationships with loved ones.

How to JUMP-START 2017

Give 2017 a Jump Start!

Get our new 8-Day JUMP START series and weekly newsletter that are packed with articles and tools to help you win with money this year.

How to BEAT DEBT in 2017

Big Change Starts Small

The best way to get out of debt and take control of your money is to make a plan! Financial Peace University is that plan!

Take the First Step

Thank You!

Your 8-Day Jump Start is on its way to !

Pc fpucoord 0616

More from the Blog