How do I tell my parents about debt?

[questions]

Hi, I'm in debt myself. I was wondering how to go about telling your family about your debt. I am 26 years old and I've had this debt growing since I was a freshman in college 8 years ago. I have never told my parents, and now I am being sued. Awesome. SO I have to do it...as embarrassing as it is. have you ever had to do something like this? How did you do it? How did it go for you? Thanks.

[cicy33]

Maybe I am weird but is there a specific reason to tell your parents? You are of age. They aren't responsible so I guess I would be in the position that if I didn't want to tell my parents I just wouldn't. As long as you are dealing with your situation that is what is necessary. On the other side, unless you are totally out of their lives, they probably are already aware of a problem growing.

[JoshuaHeckathorn]

I understand that this can be a very embarrassing situation, but you shouldn't beat around the bush. I would just sit them down and explain that I've made financial mistakes in the past the I'm now trying my best to handle responsibly. Own up to the fact that you've made mistakes and learned from them, and your parents should respect that. Tell them that you need their support, and hopefully they can provide some much needed advice as well.

By the way, how much debt are we talking about here? Have you been making any attempt to pay it down, or has this suit finally triggered a reaction?

[CalireEHughes]

More people are in debt then you would think. I suggest you just bite the bullet and man (or woman) up and take responsibility for your actions. It’s nothing to be embarrassed about and it happens to the best of us. Just be open and honest and then everything will workout for you! Let them know what steps you are taking to prevent this from happening again. It won’t be all wasted if you can come out of it with some valuable lessons learned. Don’t think of it as a dark cloud over your head, think of it as tuition to the financial school of everyday life. Good luck!