My father in law passed away and my mother in law has been left with an enormous debt. we did not realize they were this much in debt and are trying to figure out the best option for her.she is 73 yrs old. just to make her payments each month she is 500.00 short. she has a mortgage payment 950.00, home equity payment 150.00, about 6-7 credit cards estimated 15,000.00 total balance. plus all utilities and insurances.
Would like to know at her age and the amount of debt she has what her best option would be; debt settlement company, bankruptcy or some other option.
I had the following questions that I’d like for you to answer before I can answer your question. Please post your answers in the comments section of your question. I’m looking forward to helping you for free.
- Is this residual debt, joint debt in both of their names or was it in his name alone?
- What kind of debt and how much are we talking about is the problem debt?
As soon as you can post the answers to my questions above I’ll be able to help.
If any reader wants to offer advice in the comments section please feel free to participate.