Reply to TSP Loan to Pay Off Credit Card Debt

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[quote=Anonymous][quote=Anonymous]There are a lot of reasons to divorce, interestingly, trying and failing at a business venture I don't see as one of them.  But you clearly know him better than we all do here on DCUM.  I mean he presumably tried and failed.  That's kind of the classic American way of business.  Failure is basically expected for many businesses.  But eventually he might get it right.

i would take the loan and pay it all off.  I would then encourage him to try to look for any kind of work even if it is driving for Lyft or Uber until you are both back on your feet.

You should also figure out why you want to divorce him.[/quote]

He entered into a business venture against the wishes of his spouse and then did not set up the business in a manner that insulated personal assets and created $100K+ worth of CC/HELOC debt in her name, and you don't know why she might be considering divorcing him?  AND h e he hasn't worked in two years.  Wow.  You're far more generous than I could ever hope to be.

OP, I know you're in a bad place now, but have are you at all able to seek legal counsel, even through a pro bono program?  Long story short, my parents' divorce involved both state and federal revenue authorities for similar reasons, and the only way my mom came through it was through her attorneys' negotiations (and, then, after, it took years to rebuild her credit).  Before you take on more debt, see if you can find a tax attorney and do a free consultation with a divorce attorney as well.[/quote]

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