My mother in law is heavily in debt, +$50k that I know of, maybe more. She has ZE-RO income, is homeless, and has no earning power, as in she has no professional skills aside from hourly jobs. She has no money, and at this time she has no retirement. She is 60 years old, so starting over is sort of out of the picture, and her job history is so splintered I don't believe it would matter anyways. I'm essentially funding her ability to not live in a homeless shelter via extended stay hotels, as she and my wife have a quite toxic relationship(she kinda sucks).
My question is, wtf are her options? I mean, she basically has no plans, or no way of paying any of this debt off, but wants to try and get right with all of it. She's already got a bankruptcy on her history that is less than 5 years old, so we don't believe she can go that route. Is there any legal recourse for a situation where a person just simply isn't going to be able to repay their debt?
I have a good job, so I'm simply going to buy a house and 'rent' it to her(which I won't get any money from her, yay!), more so that we have peace of mind that she isn't stuck living in homeless shelters. She can live off of us, and that's not a huge issue, but given her age and earning power she will never be able to scratch the surface of "getting back on track".
Anyone else dealt with something like this? I just need to nuke her whole financial life from orbit, if it all possible. Sorry if this might fall in the legal-advice area, I feel like it may be a fuzzy area.
Submitted July 18, 2018 at 11:36PM by wushudad https://ift.tt/2JzcUjp
