My mom told me she has 70k CC debt with ~10% interest rate and student loans at idk what type of interest rate. She has not had a job in 20 years. She has a few rental properties and makes about ~1k a month from them.
My mom has a history of being terrible with finances and I dont have any confidence in her to get out of debt. I am certain these debt numbers are actually worse than what she is telling me. What options does she have to reduce her interest rate/payments?
I am a single 29 male. I have some money saved up and have a decent job. I theoretically COULD help her out, but I am worried that if I did she would just end up in this hole again on her own... My mother told me she has about 20k that she uses to trade stocks. But shes the type of person to fall for pyramid and MLM schemes easily so I am sure that this is not a good method for her.
I would guess she has ~100k in retirement savings.
Submitted November 02, 2021 at 06:09AM by cysnolife https://ift.tt/3w82MYy
