My mom is has liver and bone cancer. Eventhough she's been given a good prognosis she can't work any longer and is disable because of the illness. She has cancer in her back bone. She use to be a hairdresser and as you know you need your back for support and due to long hours standing she can't. She has decided to declare Bankruptcy because besides the fact that she can't work she has credit cards that amount to $18k and can not afford to pay them with her disabilty check. I help my mom with groceries and other bills at home but I can't help her pay almost $600 dollars in credit card. My mom is a single mother and divorced. Its my 7 yr old brother and my 17 yr old brother. Will they take the apt away from her and her car? I am very concerned with this matter. She doesnt want to consildate because the dr has suggested that she has NO stress whatsoever and she thinks that by declaring bankruptcy she can sleep at night peacefully. All she wants is to keep her home and live in peace.
2007-09-13 07:27:51 · 3 answers · asked by ME 3 in Business & Finance ➔ Credit
And not have to worry about anything. She says she doesnt even care if her credit gets messed up because at this point she only cares about us and her health which is the most important thing.
2007-09-13 07:28:47 · update #1
We have an apartment and 2 cars under her name. Everything is being paid fully at the end of the month.
2007-09-13 07:29:22 · update #2
Another thing is that she is also paying for health insurance $225.00 which is killing her too because thats alot of money for health insurance then again she has like that because she self employeed. We are trying to get medcaid so she can rely on that and have an addtional $225 for her to use for food and any others bills.
2007-09-13 07:31:25 · update #3
well she gets child support for the 7 yr old and 17 yr old. But, the 17 yr old turns 18 in November and she's no longer going to get money for him after Nov
2007-09-13 07:43:21 · update #4
Your mom can transfer all properties out of her name, before she'll fall under credit default and get taking away by creditors. I mean now. Also will would be her next immediate thing to concern. Probate for the heirs is taxable income, most state and some transfer after decease could be tedious process and tiresome.
You and your brother can receive an gift from you mom as she is giving anyone of you one car each for nomimal value such as $1 etc...
Teatment on the cancer could be something both financial stress and mind. You have to prepare to assist her on that every way you can.
Keep asking more question, maybe others may have some more to offer. Not too many family in this country that don't have this experience.
Wishing you and you mom well!
2007-09-13 07:47:59 · answer #1 · answered by L L 3 · 1⤊ 1⤋
they won't take car or apt - does. Mom get child support from your father? - if not - go to domestic relations and file for it, may also qualify for soc sec disability benefits for herself and maybe some sort of soc sec benefits for kids still at home. She can try bankruptcy, hopefully given her situation, they won't make her go chap 13 requiring a repayment plan. talk to a lawyer about the bankruptcy and DON'T make any more payments on the credit cards
2007-09-13 14:41:28 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Has your mother applied for Social Security disability? That should include extra for dependents and medicaid.
Definitely see a bankruptcy attorney to see if she qualifies.
2007-09-13 17:11:17 · answer #3 · answered by bdancer222 7 · 1⤊ 0⤋