Dave Ramsey Caller Reveals Father Retroactively Charging Interest On $60,000 Gift, Experts Warn Of Family Money Pitfalls

A daughter is facing a moral and financial dilemma after a $60,000 house down payment gift from her father was retroactively treated as a loan with interest.

$60,000 House Gift Turns Into Family Loan Conflict

On Saturday, Jessica, a caller on the Ramsey Show, said her father gave her the $60,000 five years ago and provided a gift letter, which legally meant she didn't have to repay it. 

Verbally, however, he asked her to either pay it back over time or have it deducted from her inheritance.

She explained that every year, my father gives gifts to his four children, but this year, he wrote me saying I could take $10,000 in cash or start paying back the loan with interest. 

"It’s now 71,000. I didn't know there was interest," she added.

Financial Advisors Warn About Verbal Loan Agreements In Families

Financial experts say the situation highlights the risks of informal family loans.

When gifts come with verbal conditions or retroactive expectations, they can create confusion, stress, and strained relationships.

"Don't loan your family money ever," George Kamel advised. "If you want to gift it, and do it joyfully and don’t expect it back."

He added, "This whole thing just feels toxic. Your relationship with your father is destroyed."

Jade Warshaw said parents sometimes use money to assert control without realizing it, complicating family dynamics even further.

She added, "If he has said, I can just take it out of your inheritance. I’d go that route. I just want it in writing so that this is over and done."

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Families Struggle With Debt

Earlier this month, Valentina, a mother of four, revealed her family had grown from two to seven in under five years, accumulating $300,000 in debt despite a $240,000 combined income.

They owed credit cards, personal loans, student loans, and a 401(k) loan, with monthly payments totaling $8,700.

Hosts Rachel Cruze and Ken Coleman advised strict budgeting, lifestyle changes, and selling a previous property to reduce debt.

Meanwhile, a Minnesota couple, Jenny and her husband, faced $50,000 in debt while attending family counseling.

Jenny explained her husband's past secrecy with finances was unintentional.

Hosts Jade Warshaw and Coleman emphasized protecting their $1,000 counseling budget, setting a zero-based budget using EveryDollar, and making consistent debt payments.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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