Reader Bill shares his experience with Mary Kay. His wife put his family in debt with Mary Kay, and the lies and financial wreckage eventually led to the end of their marriage.
Everything on this website encapsulates my story. I won’t waste time repeating what has already been said so well and in so many different stories. My surprise is, I thought I was unique: her quitting her job with no discussion. Her explaining that I would have tried to talk her out of the change as her excuse (she had a great government job with great benefits). Later telling me I didn’t support her and I was a negative in her life. In all of this, I thought it was just me (and made me doubt myself).
Then there’s the financial destruction. 19 different credit accounts and 3 different bank accounts. Buying thousands of dollars of product for “necessary inventory” that was never sold. Income tax losses every year. Check kiting and flipping credit cards to pay bills. All for the sake of walking across the stage in Dallas, taking trip to the Bahamas, and “earning” the pink noose (the pink car is not free).
Again, I thought it was just me, I thought it was just my wife making bad, irresponsible, decisions. Now I discover the truth. The dinners and meetings I attended in support of my wife made me out to be the fool; the smiling “sweet” vixen of a director(s) was promoting this sly and destructive activity that led to the demise of our relationship, our finances, and our family.
So what was the cost, the damage?
This very week we both signed a settlement agreement leading to our divorce within the next month, after 29 years. Our family will be disrupted forever, my daughter and her family are torn, and my granddaughter will never be able to experience family life with her grandparents like I was blessed to experience.
Financially, my wife’s irresponsible actions (with MK’s guidance) led to the wasting of her inheritance. If it had stayed invested, in place, it would have grown to over $1,000,000 today (she has $15,000 remaining).
Her perpetual use of accumulated credit, to between $100,000 to $200,000 of debt, led to the steady leeching from my cash accounts and her shifting more than $100,000 of debt to our home equity line of credit. Additionally, she has continued to accumulate debt to $40,000 – $50,000, has had to do a debt consolidation, and now has a horrible credit history; her current debt payments mount to over $800/mo. and she has no income.
All of this has crippled my ability to save and will dramatically postpone any plans for retirement. I will buy her out on our mortgage, will have to assume all accumulated joint debt (of which most I did not know about), and will have to split my retirement plan assets with her in divorce. Of course, since she has no income, I will have alimony payments plus will have to pay her monthly health insurance costs.
Most importantly, while I am not perfect and made mistakes, this is Mary Kay’s contribution to the destruction of our vows made before God, family, and friends some 29 years ago. This is my story, but evidently the story of many others! I post this so that maybe my trials and experience may help to save other families from my(our) conviction. So think about it?
THIS IS THE COST OF DOING BUSINESS WITH MARY KAY!