The other day I saw the Ellen Degeneres show where a woman wrote to Ellen a hardship letter. Apparently her husband lost his job, she was not working, their car was broken and they just had a baby. They were 11 months behind in their mortgage payments and had a huge credit card balance since they used it to pay their bills.
The woman was hysterical when Ellen called her and reported that she was giving them several thousand dollars to pay off their credit card debt and bring their mortgage current. Ellen also provided them with a new car. Wow that was very generous and I am sure a BIG relief to the family. I would be screaming and crying as well if that happens.
I wonder if the family will be provided with help and guidance along with the money. Besides being taxed on the amount they receive, what are they going to do after the credit card is paid off and the mortgage is brought current?
It seems they will be in the same boat they are in now or worse. The credit company may drastically reduce their limit or cancel them all together. The husband and wife still need to find ways to bring in cash. Since they were not able to pay the bills and mortgage before where will they get more money? Guess they could write Oprah.
It is families like these that need to use their skills to make money rather than rely on a job. It would be great if Loral and her team were there to guide them. I am realizing how important it is to have a team of experts to help put more cash in your pocket.
Rather than paying off the credit card it would be smarter to save that money and use it to generate more money. There are other strategies though I am not sure Ellen Degeneres knows about it or will allow that money to be used differently even if it will help them in the long run.
Maybe another letter to Ellen is needed.
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