My 80yo mother is on a fixed income - 2200 in social security and some income from pastoral counseling. She owns her home but took out almost 60k in a HELOC. She put in a heat pump, but can't really account for how she spent the rest of it. She purchased a few thousand dollars of silver - in case there's an apocalypse or banking failure - using HELOC funds. I also learned that she has like ten credit cards. The balances aren't huge but she just will never make more money to pay them down.
I'm wondering if she should cash in her silver to pay off credit card debt. I'd like to see her stop using credit cards. Not sure if she will agree to that. I'm frustrated but also sympathetic. I think she thought she would be taken care of but she was widowed and then married and divorced a loser.
Advice appreciated - especially about the silver.
Submitted March 12, 2024 at 10:29PM by KristieC715 https://ift.tt/NhvprMX
