My parents are in early 60s, father is unable to work due to health issues and is in process of applying for disability. For past few years, they have been only able to save very little money - couple of hundred each month or something. They’ve mentioned filing bankruptcy, as the medial bills have put them underwater.
It’s probably 20-25k they would need to alleviate all other debt (credit cards, my sisters student loan, both good and bad debt etc.).
I could pull the cash together, but I’ve also got two toddlers, have long term education and finances to keep in mind.
They currently rent a house in FL and will eventually inherit my grandparents house in a few years.
I’m not sure if it’s better to let them file (they did once when I was a kid too), as their credit isn’t super important to them. This would wash some debts away, and let them get back above water. OR I could wash most of the debt myself.
What would you do?
Submitted January 25, 2019 at 08:32AM by newturner000 http://bit.ly/2sO73kk
