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s/o Credit Card debt (again)

**O-Face****O-Face** member
10000 Comments Sixth Anniversary 25 Love Its
in Wedding Woes
Friend's bf racked up some serious debt while attending college for one year in NJ.  I'm talking $20k+.  He then moved back to the MW and has paid off about 1/3 of it. 

Friend insists that bf pay off all of it before they move further in their relationship, but it has been 3 years and he has paid off *maybe* $2K. 

What do you think about this?

I'm bored...help a girl out.

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Re: s/o Credit Card debt (again)

  • hmonkeyhmonkey member
    Ninth Anniversary 10000 Comments 500 Love Its Name Dropper
    edited December 2011
    there are more than four men in the world and he isn't that into her.
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  • nicoleg1982nicoleg1982 member
    5000 Comments
    edited December 2011
    I have many questions.

    1.  Was the debt issued via standard student loan agencies and has he locked in a low interest rate and payment?

    2.  What is he doing now for work? 

    3.  Does he have the ability to pay it off earlier than the life of the loan?

    4.  Is he making payments at all?

    5.  If he is only able to afford the minimum payment, what's her beef?

    There are so many factors that go into this, I just can't say DTMFA.
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  • nicoleg1982nicoleg1982 member
    5000 Comments
    edited December 2011
    Wait.  Is this debt student loan debt or just living expenses debt?
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  • GBCKGBCK member
    Knottie Warrior 5000 Comments 500 Love Its Name Dropper
    edited December 2011
    how much of a priority could she be if that's all he's managed?
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  • **O-Face****O-Face** member
    10000 Comments Sixth Anniversary 25 Love Its
    edited December 2011
    It was living expenses as far as I am aware, in fact it is CC debt.

    He was living it up in NJ, buying crap, eating out all the time.

    He makes a good income now, living in a shared apartment with his gf (my friend) and still makes poor financial decisions.

    IMO, he doesn't want to fess up and basically grow up and realize eating out every breakfast and lunch will not get you closer to paying off debt.

    My friend (his gf) is just as stupid financially (this coming from ding dong---me) and won't realize that Happy Hours, Massages, Hair appts and Clothes aren't the way to spend your money.

    Then again, it is NOT my money...soo....
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  • MinMMinM
    10000 Comments
    edited December 2011
    ::raises hand::

    Did he graduate?
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  • **O-Face****O-Face** member
    10000 Comments Sixth Anniversary 25 Love Its
    edited December 2011
    I don't believe so Min, but he had to have, because now he's dragging his feet trying to test for MBA.
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