I am in my last year of law school, still searching for a post-graduation job. When my parents filed for bankruptcy, they were allowed to stop paying on their home morgage (around $1200 a month) under the Bankruptcy Code. This "automatic stay" has been in place since my dad filed, a total of 6 months. Hence, for 6 months my parents have been living in their house that is about to be foreclosed by the bankruptcy courts without paying a morgage. You think they would have saved money for moving right? NOPE. They don't have a dime!
I am a LOT wiser with my money. I have a $5000 mutual fund account, over $3000 in savings, 2 jobs in which I place "extra" money in money market account.
They have paid my car note and insurance ever since I have been in law school. I feel that I should help them with their down payment on their new house but I am scared because they are not financially responsible and I need that money to pay for bar dues, bar classes, the bar itself, moving expenses, etc.
2007-01-09
00:45:38
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8 answers
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asked by
darshunk
2
in
Personal Finance