“I had no idea!”
This is what the children of many of our clients say to us when they discover their mom, dad, or both, are being hounded by debt collectors.
“They never said anything.”
That’s usually the next comment. It’s easy to see why.
Parents generally don’t want to burden their children with financial problems. This is especially true if they are embarrassed and they feel like they have failed. They probably wanted to leave money for you or your kids, and the truth is, they don’t have any. Is it any wonder they don’t want to share their poor financial situation with you?
How You Can Help
That doesn’t leave you off the hook. You should at least investigate. There may be signs in plain sight that they aren’t doing well financially. When glancing at their mail, are you seeing letters that say “important” or similar notices from credit card or loan companies? Are their bills piling up on the dining room table? Is the refrigerator more bare than normal? Are they avoiding situations where they might need to spend money, such as maintenance of their house? Are they spending less money or their grandkids’ birthday and holiday gifts? Is one or both of them working when you know it is a serious strain on them physically?
These are all signs of financial struggle, and they mean it’s time to talk to them about bankruptcy help.
Take a look at what they collect per month on their Social Security, pensions, and other income. Look at their mortgage payment or rent, utilities, car payments, and other expenses. Let them know that you’re there to help them.
If they are in financial trouble, contact Steidl and Steinberg’s bankruptcy lawyers. We may be able to offer a solution that can get them out of their difficult situation, or at least reduce their stress, such as a Chapter 7 bankruptcy or Chapter 13 bankruptcy. The consultation is free.
When you were young, they took care of you. It’s time to return the favor.