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SVTPerformance's Chain of Restaurants
Road Side Pub
House short sale/for sale by owner
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<blockquote data-quote="598" data-source="post: 15611198" data-attributes="member: 71706"><p>If you are going to help your parents financially, weather directly or indirectly, you need to know what the real finances are. Do they have a ton of credit card debt? What are their total assets and liabilities? You may find yourself fixing one problem not knowing about the 5 underneath, and have wasted your time and money. If you are putting one 20k liability to rest, even by loan forgiveness, but they have more that you don't know about because they didn't want to bother you with it, no one wins but the creditors, and in my experience, the creditors helped your loved ones dig the hole they are in today. If they are over a certain age, like retirement age, I'd explore all credit forgiveness options, including bankruptcy.</p></blockquote><p></p>
[QUOTE="598, post: 15611198, member: 71706"] If you are going to help your parents financially, weather directly or indirectly, you need to know what the real finances are. Do they have a ton of credit card debt? What are their total assets and liabilities? You may find yourself fixing one problem not knowing about the 5 underneath, and have wasted your time and money. If you are putting one 20k liability to rest, even by loan forgiveness, but they have more that you don't know about because they didn't want to bother you with it, no one wins but the creditors, and in my experience, the creditors helped your loved ones dig the hole they are in today. If they are over a certain age, like retirement age, I'd explore all credit forgiveness options, including bankruptcy. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
House short sale/for sale by owner
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