My parents debt
My father is 78 years old and lives in assisted living. My mother passed this past February and I was able to pay off all their debt with her life insurance policies except one credit card. The card has $20,000 balance and a low APR but I’m not sure how I can tackle it since most of his income from Social security and his pension go to the assisted living facility. Any help or guidance is appreciated.
Terry Says
Whew, well if your father’s name is not on the credit card account, you don’t have to pay the balance! He has no assets for them to lien. I’d suggest you call the card issuer and ask them to write off the balance, telling him the info that you gave me. If it has already moved into a collection company, you can tell them to consider the account closed.
If they give you a hard time, seek free assistance from the National Foundation for Credit Counseling at 800-388-2227.
If you still have a problem, please write back — and I’ll get involved.
