A man won a significant court settlement, leaving him with a six-figure payout. His mom then asked him to pay off her credit card debt, but he refused as he was concerned about the consequences. Here is what he had to say:
He Won A Significant Court Settlement
The man said, “Last year, I sued my landlord. There was a long court battle, thousands in legal fees, constant threats of evictions, etc. The entire ordeal was extremely stressful and a huge risk. However, it ultimately resulted in a large six-figure settlement, and I have since happily moved on with my life.”
His Mom Had A Massive Credit Card Bill
His 70-year-old mother knew about the settlement and was genuinely happy for him. However, a few days ago, she dropped a bombshell during a phone call: she had accrued a staggering $125,000 in credit card debt.
She Wanted Him To Pay It Off
She asked her son to send her the money, promising to pay him back with 5% interest over five years. The man was stunned by the request, unable to believe what he was hearing.
She Wouldn’t Tell Him Why She Had The Debt
So, he asked about how this massive debt had accumulated, but his mother seemed reluctant to provide a clear answer, responding with, “Is it really important for you to know the answer to that question?” Although he had his suspicions, he didn’t press further.
He Suspected The Reason
Years ago, his mother quit her job to pursue a career as a life coach. While he respected her decision to follow her dreams, he always had reservations about the life coaching industry, with its potential for scams and multi-level marketing practices.
She Wanted To Be A Life Coach
It was apparent that his mom had spent a significant amount of money on coaches and seminars, but she was evasive about the details, leading him to believe that this was the cause of her financial crisis.
He Was Torn
The man explained what happened next: “I said no. She accepted my decision but also began crying, and I could tell she was really hoping that I would be her get-out-of-jail-free card. I feel terrible because I do have the money to pay for it. I also love my mom and hate to see her in this situation. She’s an amazing woman who raised me as a single mom. I owe her everything.”
He Worried About The Implications
However, he felt that by paying off the debt he would be enabling someone who had spun out of control of their finances, and the man doubted he would be paid back. He stated that it would “take a huge chunk out of the money from the settlement, which I have placed into my retirement savings.”
Was The Man In The Wrong?
The man was left torn by his decision, questioning whether he had made the right decision. So he turned to the internet for advice on whether he was in the wrong.
The Internet Responded
One person said, “If she isn’t telling you what was owed then I wouldn’t pay it. Does your mom own any assets? If she has a reasonable asset, you can “buy that asset” and rent it back to her. If there are no assets, I’d suggest bankruptcy.”
Another Person Made a Comment
“Regardless of any circumstances, you are allowed to do whatever you like with your own money. Regarding these circumstances in particular though, there are a few red flags in that she won’t tell you how she got into the debt, and you can’t be sure she won’t spend this money to erase her debt just to fall back into debt again.”
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