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Stay Out Of Debt

Last night, at my Bishop's request, myself and the High Priest Group Leader in my ward visited a single sister who was requesting financial assistance. What we discovered was she was so far in debt, we really could offer no solution. She's in her early 60's, divorced, living alone and works full time earning $1,600 per month. But she has $14,000 in credit card debt, a $280 car payment, rent and utilities of about $800 per month and medications of about $200 per month. This is before food, clothes etc. She went to credit counceling a few months ago and they told her she was beyond what they could do for her. Her credit cards are spread out over three different institutions that are all charging late fees, penalties and interest because she hasn't paid a dime on them for months. She can't file bankruptcy because she already filed about 4 or 5 years ago.

The Bishop says it is church policy not to pay for consumer debt. We can assist with rent, food etc so that may be a little relief but she is in a pretty bad situation. I think she needs to move out of her apartment and move in with one of her 5 adult kids. None of them are apparently well off but they need to step in and take care of Mom. That will save her the $800 per month and allow her to start tackling the credit card debt.

So, just a word of warning...don't let this happen to you. We have been warned of debt many times from the pulpit. How does everyone here handle debt?

Debt Out Stay

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