This NY woman took a $35K loan for her boyfriend — then they broke up. The Ramsey Show hosts explain who owns the debt

Core Insights - Taking out loans for loved ones can lead to significant financial burdens if relationships end, as illustrated by Lily's situation [1][2] - Lily's loan of $35,000 at an 11.49% interest rate has left her solely responsible for the debt after her breakup [2][3] - Legal recourse for Lily is limited, with small claims court unlikely to provide a solution for the remaining balance [3] Financial Situation - Lily's ex-boyfriend has been making minimum payments of $951 per month, which is insufficient to pay down the loan quickly [2] - He has agreed to increase payments to $2,000 per month, but his weekly income of $1,000 makes it challenging for Lily to achieve her goal of repayment within a year [3][4] - Lily's take-home income ranges from $10,000 to $12,000 per month, allowing her to potentially pay off the loan in six months if she focuses on it [4] Recommendations - The hosts advised Lily to stop relying on her ex for repayment and to take control of her financial situation by paying off the loan herself [4] - Suggestions included pausing investments and getting a roommate to help with increased rent costs after the breakup [4][5]