Paying credt card for daughter’s attorney
Hello,
My daughter is involved in a nasty custody case and I’ve been paying her atty fees on my credit card. The balance is now $13k, making me very uncomfortable. How should I pay it down? I have savings of $18k earning 3.5% and $180k in my 401. (I contribute $550/wk + I pay $600/wk in spousal support). I hate the thought of draining my savings. I’m 67 years old w/a few more yrs of employment. Annual earnings $150k. Your advice/guidance is greatly appreciated. Thanks.
Terry Says
Wow, is this part of the divorce — or a post-divorce proceeding? Because if it’s part of the divorce itself, the attorney should be collecting from the spouse that has the money!
You think you’re doing a good thing, but actually you’re incentivizing the attorneys to continue the fight — because they are getting paid! Has anyone suggested mediation in this custody case? That’s the right way to go, sine a legal battle can drag on forever.
Obviously, I don’t know the details, but if this is truly a case of protecting the child from a dangerous parent, you’d need to go around the attorneys and get the court itself involved. And as long as they are getting paid, the attorneys have no incentive to settle.
So, I know that’s not what you asked. But it’s time to tell your daughter that you’re out of money. YOu might volunteer to take temporary custody of the children until the case is mediated. But this is a bottomless pit — and it’s costing YOU interest, and not helping your daughter. Pay off the balance with your savings, and don’t put another penny on that card!
