My sister’s husband died and left her in great debt.
My sister’s husband passed away recently and she is in more debt than she ever knew. She will receive his Social security payment because it is larger than hers, but she loses hers which they counted on. She will also get half of his pension, but that is all. She has 2 mortgages and a car payment plus all the necessary utilities, etc. to get by on, but that all exceeds what she will receive every month. I’m wondering if she has any other options than filing bankruptcy and losing her house. Is there a service or counseling she can seek out for little or no cost that can help her? Thank you for any advice you can offer.
Well, there probably are a lot of different options. With home prices so high these days, she may be able to sell the house, pay off the mortgages, and still have a little cash left over to pay for a couple of months rent at a less expensive place.
And with employees in such demand, she may be able to get a part-time job to bring in more income.
I suggest she immediately call the National Foundation for Credit Counseling at 800-388-2227. That will automatically connect her to the nearest local office of this non-profit. You can trust their advice. I hope she can avoid bankruptcy — and it should be the last resort, because it will impact her ability to sign a lease and get a job.
They will show her which debts are legally hers, and which died with him. That may lift some of the burden. So don’t delay.