Mom Loaned Her Adult Son $15,000 -- Now She's Behind on Her Own Bills

A story described in the article follows a mother who lent her 24-year-old son $15,000 about three years ago, after a failed business venture. She was not willing to treat it as a gift: the son said he would repay within a year after finding steady work, but repayment did not materialize. The mother is now three months behind on her mortgage and is focused on rebuilding her own finances rather than suing him or cutting him off. The article also discusses the general risk of family loans becoming informal, potential IRS issues for below-market loans, and the importance of documenting terms. To prevent further shortfalls, she used automatic transfers with Albert and set up bills to be paid automatically around payday.