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The Risks of Bailing Out Family Members

By Michelle Singletary
Published April 15, 2008 at 1:00 PM EDT

If your son, sister or best friend is facing foreclosure, it may be tempting to bail that person out. Generous impulses may have serious consequences. Alex Chadwick talks to personal finance expert Michelle Singletary about how to help your loved ones assess their finances, without sacrificing your own stability.

Copyright 2023 NPR. To see more, visit https://www.npr.org.

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Michelle Singletary
Michelle Singletary is the personal finance guru for NPR’s Day to Day, filing commentaries that can be heard every Tuesday. In conjunction with her work for NPR, Singletary writes the award-winning, syndicated “The Color of Money” column for the Washington Post and is a regular contributor to Howard University's evening news radio program, Insight, on which she discusses personal finance issues.