Feb 28, 2026
Advertisement
Imagine Jane, a 58-year-old mother, watching her 27-year-old daughter, Krysta, unravel financially after a breakup. Jane had always considered Krysta responsible. She graduated from college, landed a stable job and always paid her bills on time.
Then Krysta met Tyler. Jane thought he was a bit immature, but harmless. It wasn’t until later she learned Tyler was terrible with money, and Krysta enabled his behavior. She added Tyler as an authorized user on her credit card because it had a lower interest rate than his. She cosigned on a car loan he couldn’t get on his own. They rented a luxury apartment they qualified for largely because of Krysta’s stronger credit score and income.
When the relationship ended, so did Tyler’s willingness to pay. The car payments fell behind. The credit card debt he added wasn’t getting paid off. They broke their lease, but he bailed on his half of the final month of rent. And because much of the finances were tied to both of their names, the damage has followed Krysta, causing her credit score to plunge. Jane wants to help, but what can she do in this type of situation?
Mixing finances comes with risks
Blending finances isn’t just about splitting rent or sharing a streaming account — it can mean sharing liability. In Krysta’s case, she had far more to lose.
When someone allows a partner to use their credit card, cosigns a loan or qualifies for housing based on their stronger credit score, they are putting their own financial reputation on the line. Lenders don’t care who swiped the card or drove the car. They care whose name is on the contract.
That underlines a hard truth: adults are responsible for their own credit. Even if Krysta felt pressured or wanted to “help” Tyler, she agreed of her own will to sign the paperwork.
Must Read
- Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — here’s what it is and the simple steps to fix it ASAP
- Robert Kiyosaki begs investors not to miss this ‘explosion’ — says this 1 asset will surge 400% in a year
- Vanguard reveals what could be coming for U.S. stocks, and it’s raising alarm bells for retirees. Here’s why and how to protect yourself
Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.
Helping a loved one get back on track
For parents like Jane, the instinct may be to jump in and fix everything. But think about how vulnerable her daughter must be feeling. On top of mending a broken heart, Krysta might be dealing with embarrassment and shame.
Instead of offering unsolicited advice, Jane might say: “If this were me, I’d want to look at every account and make a plan.” Framing it as perspective rather than criticism can keep the conversation open.
Here are some steps that can be taken to help get Krysta back on track.
Advertisement
Close any joint accounts, cut off added users: If Krysta shares any accounts with Tyler, she should close them. This can get tricky if there are any outstanding balances. Hopefully both parties can come to an agreement. She also needs to remove him as an authorized user on her credit card, and the Consumer Financial Protection Bureau suggests a person in this situation may want to request a new card with a new number as well (1).
Negotiate responsibility for shared loans: The cosigned car loan might be difficult to navigate, since Krysta is equally as responsible for the debt as Tyler. Paused payments on the car will continue to affect her credit score. Once again, hopefully they can come to an agreement.
Change passwords to any shared services: Whether it’s an Amazon account or bank account, if Krysta shared her login credentials with Tyler, it’s a good idea to change them. Many of these accounts contain sensitive information she may no longer want him to access.
Build a modest emergency fund: The point of an emergency fund is to prevent you from falling (further) into debt following an unforeseen event. Even a $1,000 early on can help keep you out of trouble. Eventually, you may want to save three-to-six months’ worth of expenses.
Game plan how to tackle any debt: Two popular methods for taking on debt include focusing on the highest-interest debt first (the avalanche method) or the smallest balances first (the snowball method). Both have their merits, and may depend on which motivates Krysta more.
Consider professional help: A nonprofit credit counseling agency can help create a structured repayment plan. In more severe cases, bankruptcy might be an option, though it should be considered carefully and typically as a last resort.
Article sources
We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.
Consumer Financial Protection Bureau (1)
You May Also Like
- Turning 50 with $0 saved for retirement? Most people don’t realize they’re actually just entering their prime earning decade. Here are 6 ways to catch up fast
- This 20-year-old lotto winner refused $1M in cash and chose $1,000/week for life. Now she’s getting slammed for it. Which option would you pick?
- Warren Buffett used these 8 repeatable money rules to turn $9,800 into a $150B fortune. Start using them today to get rich (and stay rich)
- Here are 5 easy ways to own multiple properties like Bezos and Beyoncé. You can start with $10 (and no, you don’t have to manage a single thing)
Danielle is a personal finance writer based in Ohio. Her work has appeared in numerous publications including Motley Fool and Business Insider. She believes financial literacy key to helping people build a life they love.
