My mom’s credit card debt
My mom has dementia and is currently in hospice care, not necessarily end of life, but making her comfortable, and it helps us with the depends and bed, et cetera. She has two large credit card bills, Sears and One Main, $8260 and $5219. She owes $7818 on her house. I don't believe the house is worth anything (in very bad shape, needing everyting), but the property sits on five acres in unincorporated Wilmington, Illinois. My brother is currently living int he house (doing nothing to help with upkeep or electric bills). We are (I am) working on getting him out and into public housing. She is living with us.now, and we are using the Social Security and small pensions she gets from my dad to pay for home care when I got out (four hours twice a week). I am working with our family attorney to get two small accounts liquidated. Should I use this money to pay down her debt? And do I call the credit card companies to negotiate? Any other advice or light you could shed on this or any direction to another source would be so greatly appreciated. I get LOTS of advice from anyone who hears my tale of woe, but, Terry, YOU are the expert! Thanks! Linda
Terry Says
Wow, what a tough situation for you. OK, I'm going to assume that the cards are in her name only, and that none of you is a cosigner on the cards. I would definitely call the card issuers and say she is in hospice and has absolutely no assets, is being cared for in your home, and that her home is being foreclosed -- so they can get in line if they want to collect! That should put a stop to any calls or letters. When she passes, they will simply write off the balances. It is very doubtful that they would put any kind of a lien on the land -- if the property is still in her name. If you can sell the property now, use the proceeds or any other money you receive to pay for her ongoing care. Credit cards are "unsecured" debt, so you can safely do that. And be sure you get a healthcare power of attorney for her, and her end-of-life wishes (living will) so you can make the tougher decisions when they come.
