Please help! Before we were married, my wonderful husband lost his “white collar” job and fell into hardship financially. (Prior to this, he only had a student loan he was paying off and otherwise perfect credit.) He was quite young. He took out a small loan and used his credit card (without a limit) to cover his needs for some time…expecting things to turn around. Times went from bad to worse and his home was foreclosed…the debt was up to around 20K. He has not used credit since…for approximately 8 years. In order to survive, he turned to carpentry/construction and continues in this to this day. He had hoped to get financially secure and begin to eliminate his debt. However, just a few months after we were married we learned that both of our aging parents were in drastic trouble with their health or finances. To make a long story short, he was never able to pay his debts. Instead, he has been working hard to care for both of our parents, as well as, cover our basic living expenses. He saved their lives. And I am SO GRATEFUL to him, as are both of our parents. No one can begin to know what a hero he has been. He has carried more than I think one man should have to bear, ever.
My husband has lived with painful regret over never addressing his debts…he has a noble heart and has distressingly lived beneath that dark shadow. Just recently, (within months of each other), each set of our parents were given family inheritances which brought total security to their previous physical and financial sufferings. For the first time since being married, 7 years ago, we are no longer caring for them and can finally focus on our own needs! He does not know I am inquiring about this…but I would like to know how best to start so that I can help to alleviate the tremendous burden of his past debt as a single man (we have not incurred debts as a married couple). All I know, so far, is that the SOL in our state is 6 years, so now what? I do not have his credit report, nor do I know if he has any old records of the debts in his current possession…, or what to do if he did? This question is not about clearing his credit report or ignoring past charges. It is about doing what is necessary for him to live with a cleared conscience…by facing what he never was able to do, as he had intended. Please send wisdom and knowledge in this matter, so that he can begin to live in peace. What is the best route to truly erase the debts without costing us a fortune? THANKS!
