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.
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