My Wife Hid $53,000 Of Debt and Left Me (She's 68)

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Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 11 March 2025

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	brought to you by the every dollar app start budgeting for free today well i'm a 75 year old
0:08.6	senior with a 68 year old wife and i found uh a month and a half ago that i was 53 000 in debt on
0:18.2	credit cards i thought i was debt free for quite a while now.
0:24.3	And I come to find out that there was money being put against the credit cards from
0:29.9	casinos mostly for the last five years.
0:35.3	Anyway, right now I'm lined up to borrow $80,000 at a credit union at 6.625%
0:44.3	30 year amortization, but it's a balloon payment. And the reason I went with that is because I
0:51.3	can pay different amounts at different times because I make $30,000 to $50,000
0:57.6	extra approximately every year over my, our retirement. Our retirement income is $57.35 a month.
1:08.9	Who racked up the credit card bills, your wife? Yes, ma'am. And you didn't know about it?
1:15.7	I wasn't smart enough to keep my nose in the books and I trusted her 100%. How long have you guys been
1:21.6	married? 13 years. It's my second marriage. Okay.
1:31.8	And so approximately half the time you've been married, she's been lying to you?
1:33.8	Yes.
1:35.3	Because she has a gambling problem.
1:37.9	Yes.
1:43.9	Okay. Well, you described to me how you're going to try to fix and get out of this. What about stopping the problem?
1:46.8	What are we doing about our gambling problem?
1:49.6	Well, she left me because she knew I'd be really upset and she went to her mother.
1:54.6	So she says she's getting counseling every week, but I'm not sure it's for the gambling problem.
2:03.1	What do you think it's for?
2:06.3	She's going to a Christian counselor, and I'm not sure she's admitting that she has a gambling problem yet.
	...

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