It can be hard for parents to see their children grow up and move out of the house, but what happens when an adult child builds up a lot of debt? Do his or her parents become responsible for paying those bills? Carmen Wong Ulrich explains how much of the financial burden a parent shoulders for a grown child's debt.
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Watch Carmen Wong Ulrich's 'On The Money' Saturdays at 8PM ET on CNBC! Find more information on coping with the economy with our Bail Yourself Out resources.