My cousin and her husband are a definite yes. When people are too stupid to learn from their mistakes.. yes you will end up on the same path.
On the other hand I would have to say no. Things happen. When my husband and I got married we both carried our share of debt. Then we got an awsome deal on a house We got a house that was appraised for $125000 for $104000.
I knew the people and loved the house. We kind of jumped into this one a little to early. Then we had kids with doctors bills, and then the roof on the garage needed to be reshingled, then a hot water heater, then car repairs. It was one thing after another. Then I started buying groceries on credit card because I knew we would be short. Trust me.. we didn’t get our credit card debt by buying luxury items.
I am reading a book called “The Bankruptcy Solution“. It is great information and takes you through all of the alternatives. I am looking at all my options before anyone is decided upon.