Her Dad Is In A Massive Amount Of Debt, So She Wants Him To Rent Out The Apartment He Lives In So They Won’t Lose It
Dealing with debt is unbearably stressful, especially when working out debt that family members have accumulated.
One woman’s family had their lives turned upside down when her mother passed away. Years later, her dad has accumulated massive debt, so she’s trying to convince him to leave her childhood home.
She’s 32 years old, and her dad is 65. Her mother passed away when she was only three years old. However, her grandfather was determined to help her, so when she turned 13, he purchased an apartment for her and her father. Her grandfather put the apartment in her name and made himself the co-owner.
As she got older, she began to help her dad pay the bills. He’d pay the bills related to the apartment, including the building maintenance fee. She’d pay for food and the internet bill.
Her dad started getting careless with their bills pretty quickly, ignoring certain ones like the property tax, electricity bills, water bills, etc. In addition, he never held a steady job, claiming he didn’t want to work for anyone.
As years went by, her dad accumulated a massive amount of debt. She estimates it to be around $18,000.
He also has accumulated credit card debt, using a card he opened in her name. She hasn’t lived in the apartment for the past three years but wants to help do what’s best for her dad.
“The building administration is now suing my grandfather because they want their maintenance money and know my dad is unable to pay,” she said. “If they win the lawsuit, they could keep the apartment.”
She has a well-off uncle who has kindly offered to help pay her father’s debt so he can keep the apartment.
Gorodenkoff – stock.adobe.com – illustrative purposes only, not the actual person
However, she thinks he’d be better off if they rented out the apartment. It’s in an up-and-coming neighborhood, so she knows they could make good money off it.
They could pay her uncle back and move her dad into a new apartment. He could even use the money left over for living expenses.
Although she knows she will most likely never earn any money off the apartment, she thinks this is the one solution to ensure her dad wouldn’t fall into this situation again.
Her dad did not like the idea at all. He feels he’s being kicked out of his home, which he loves. He tried convincing her that he’ll be able to pay off his debt responsibly, but she highly doubts that.
“My uncle can give us the money, and [we’ll] just pay it back whenever, but the main issue is that my dad just doesn’t make money, and our only collective asset is this apartment,” she explained.
Do you think she should make her dad move or try to find a different solution for his debt problem?
You can read the original post on Reddit here.
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