How should a Catholic husband handle the situation of his wife driving herself into deep debt?

(I'm assuming the wife has her own, separate account, and possibly even has a job.)

Assuming all debts are in her name only, have her declare bankruptcy.
 

It is a sin to declare bankruptcy. It is stealing from the people you owe legitimate debts to.

Quote from: Guest

Assuming all debts are in her name only, have her declare bankruptcy.
 

It is a sin to declare bankruptcy. It is stealing from the people you owe legitimate debts to.

No, it is not a sin if you don't do it on purpose. Lenders are insured for that purpose, they will get paid.

It's called stealing from the people you owe legitimate debts to when you buy something you cannot pay for.

Quote from: Guest

Assuming all debts are in her name only, have her declare bankruptcy.
 

It is a sin to declare bankruptcy. It is stealing from the people you owe legitimate debts to.

A deviation from the thread. Tan Books when under Thomas A. Nelson went bankrupt and all his unsecured creditors, including Catholics who had loaned the company money, lost their money.

Assuming all debts are in her name only, have her declare bankruptcy. Her debts will be wiped away and for the next 10 years she will play heck trying to get back into debt without cash because the bankruptcy will be the red flag to lenders and her credit score will be so bad she will only be able to get credit cards with a limit of a few hundred dollars.
 

Don't "have her" declare bankruptcy -- but unless her job (her allowance, share of the family income, whatever you want to call it) can cover the debts, bankruptcy might just happen.

If she took on the debts without her husbands consent, he shouldn't have to pay for them. Let her destroy her credit, I say. But the husband was pretty foolish to not keep a closer eye on things until she was "deep in debt". Where did he think all those pretty new clothes and shoes were coming from?

*sigh*

This messed-up modern world -- it has a siren song of happiness that material things will make you happy, and which of us isn't tempted by that? Which of us has a life that is pure bliss and pleasure, to not be tempted to a little "instant happiness" that is a brand new computer, tablet, or other material thing?

America exudes consumerism and materialism. Like liberalism, it's all around us. And let's not forget the role of advertising in all this.

In the 1940's they were experimenting with TV ads, and they got to the point of almost perfect mind control, using psychology etc. It freaked them out a bit, and I think they pulled back. But it makes you wonder where they're at today...

Again I say -- TOSS THE TV!

Sit her down in private and ask her if everything is ok.   And listen to her.
Don't yell at her but tell her that it can't continue.  Cut up those credit cards.
Take family and go for a hike.  

And of course.  The family who prays together stays together.

Quote from: Guest

Assuming all debts are in her name only, have her declare bankruptcy.
 

It is a sin to declare bankruptcy. It is stealing from the people you owe legitimate debts to.

Usury is a sin, too, and in the U.S. at least, it permeates the economy at so many levels: from the Fed tampering with the value of the dollar, to the credit card company and sub-prime loan crooks, to federal students loans and "quick cash" shops, which have exponentially multiplied in the past 40 or so years. So, it's difficult to say if declaring bankruptcy is a sin. If it is, the leaders of many dioceses in the U.S., who have declared bankruptcy, have committed really grave sins. The amount of debt their in due to the priest abuse scandals is on the order of hundreds of millions, if not billions.

If she took on the debts without her husbands consent, he shouldn't have to pay for them. Let her destroy her credit, I say. But the husband was pretty foolish to not keep a closer eye on things until she was "deep in debt".

The husband in this case wanted joint bank accounts, but then the wife didn't, presumably so she could be secretive about her "spendthriftiness"...

Where did he think all those pretty new clothes and shoes were coming from?

*sigh*

This messed-up modern world -- it has a siren song of happiness that material things will make you happy, and which of us isn't tempted by that? Which of us has a life that is pure bliss and pleasure, to not be tempted to a little "instant happiness" that is a brand new computer, tablet, or other material thing?

Haha I'm fine with my old computer... until the hard drive burns out etc...

America exudes consumerism and materialism. Like liberalism, it's all around us. And let's not forget the role of advertising in all this.

In the 1940's they were experimenting with TV ads, and they got to the point of almost perfect mind control, using psychology etc. It freaked them out a bit, and I think they pulled back. But it makes you wonder where they're at today...

Again I say -- TOSS THE TV!

Amen.