Imagine the best person you know. The one that is always willing to help who needs it. In an ideal world, these people would always be paid for everything they do, but the reality is different. There are those who, because they “go from good people” , end up with other people’s debts.
Mel is a noble family mother and proud wife . When her brother asked for a large amount of money due to economic problems, Mel did not hesitate a minute to offer her help, so she went to the bank and asked for a loan.
However, after a few months, Mel’s brother is still unable to pay her money and now, she will have to bear the consequences of a debt that is not her own: constant collection calls, letters from banks and terrible anxiety.
Mel, like many other Mexicans, is assuming a debt that is not her own: a debt of a family member, children or even the couple.
What can you do to avoid other people’s debts?
Learn to say no
Keep in your mind the phrase: “I do not want debts that are not mine”, unfortunately, when a family member or loved one is going through a difficult time we are not always able to help economically. If they ask us for money, we must first see if that amount will not affect our personal and family finances.
Lend a smaller amount
If a loved one needs an amount out of your reach, one option is to offer help with a smaller amount that does not decapitalize you and allows you to recover quickly.
Offer other help
If it is not possible to help you financially, think about how else you can be useful as the case may be. Sometimes it is possible to provide an alternative solution.
What happens when I already have a debt that is not mine?
Talk to the person to whom you lent the money and tell them about your situation, ask them to pay you a share or make monthly payments that allow you to cover that debt.
Find alternatives that allow you to start solving your debt as soon as possible. Seek advice so you know what your options are and what you can do in your particular case.