Some of my dads retirement just ran out, meanwhile he's making payments on a vehicle that is his only means of transportation......he's now 3 months behind and has about 2 weeks to catch up......im at the end of my rope in helping him financially...is there anything that can be done????...His health isnt that great, and I feel if he loses this it will only get worse.
2006-09-30 19:29:54 · 10 answers · asked by jlp165 2 in Business & Finance ➔ Credit
if he can't pay it - he could file bankruptcy.
if his health is that bad - he could collect his social security.
if he hasn't spent *all* of his retirement - now is the time.
Basically, you are witnessing the way the middle class has alot of pressure.... the rich are getting richer, the poor are getting poorer and the folks who just might make it... well.... just vote democrat in 08 and hope for the best.
As far as the car getting repo'd - they can't take your ONLY source of transportation if you have filed bankruptcy... or so I've heard.
2006-09-30 19:32:28 · answer #1 · answered by rabble rouser 6 · 1⤊ 1⤋
Sorry to hear about your father's financial situation.
Unfortunately the only way to avoid repossession is to get his account current. If he can get a small loan or get a home equity loan that may reduce his payment to smaller amounts per month. If family or friends can help out to pay off the car he could make monthly payments to them.
Hope this helps. Good luck
2006-09-30 19:37:19 · answer #2 · answered by No Way 3 · 0⤊ 0⤋
Dude, stop looking at that picture while you are on the inside.
Look at the picture from the outside and think outside the box.
Ditch the car and SAVE YOUR FATHER! You are responsible for providing food, clothing, and shelter to your ailing father in his twilight years. No where in that is a car mentioned!
Your father is in the last leg of his life and is not independent. Let him move in with you or another family member and let them take the car. Based on your comments, he can not take care of himself.
A lot of elderly low-income and otherwise catch the bus. Trying to save the car first and your father second is stilted thinking.
Save your father first and let the car go. Family first. Money second and things last!
Bring your father in-house and shut down this "independent living". Let the car go and start saving money and introduce him to public transportation AND exercise.
Exercise will improve a person's health at any age and condition. Perhaps you should develop a ritual of walking with your father in the morning before YOU go to work.
Good luck.
2006-09-30 19:37:41 · answer #3 · answered by DaMan 5 · 1⤊ 0⤋
some time the loan company will defer payments when someone becomes disabled. I would call the loan company and talk about some of the options they can offer you.
2006-09-30 19:43:39 · answer #4 · answered by AzzGoodAzzItGetz 4 · 0⤊ 0⤋
Sell the car and get a cheaper one the either of you can afford!!
You can get cars as cheap as like $200. If he just needs to get around he doesnt need something stylish... geez
2006-09-30 19:40:24 · answer #5 · answered by MM 5 · 0⤊ 0⤋
make a few car payments for him so he does not lose the car.
2006-09-30 19:35:35 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Live in it! As long as its occupied its considered a residence and they first have to evict you, which is a tonne of legal rig-a-ma-role in itself!
2006-09-30 19:33:50 · answer #7 · answered by TrickMeNicely 4 · 0⤊ 2⤋
This probably sucks, but help him hide it until you get the money!!!
2006-09-30 19:33:58 · answer #8 · answered by U Think U Know Me 3 · 0⤊ 1⤋
Hide it in a carwash.
2006-09-30 19:32:28 · answer #9 · answered by sendmedaisies 3 · 0⤊ 2⤋
soory , its really taff.
// fahad_care@yahoo.com
2006-09-30 20:32:17 · answer #10 · answered by Anonymous · 0⤊ 0⤋