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mother-in-law albatross
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Posted by Jean (149.152.89.61) on May 02, 2002 at 16:13:50:
Over the past several years, my mother-in-law has run up over $24,000 in credit card debt. She has no car, home or savings. Her only income is Social Security. We live in Connecticut. How she managed to get so many credit cards with only $8000/year in Social Security is beyond my comprehension. She is 77 years old and in very poor health. I suspect that she is becoming senile. She has to live with us since she is unable to take care of herself or handle her affairs anymore. My husband had her close her checking account because she had given permission for all of her creditors to take money out to for payments, and every month they clean it out and leave her with overdraft charges! I found this out because she couldn't even afford to pay for a $25 prescription. Her check bounced. We opened a joint bank account in another bank and have her Social security check directly deposited. Her creditors' phone calls are driving me so crazy that I installed caller ID and am ignoring the calls. I have heard that if her social security check is direct deposited into her bank account, she is judgement-proof. They cannot attach her bank account. I got her signed up for Medicaid, food stamps and a pharmaceutical assistance program. She will leave no estate when whe dies. Our family lawyer who did my house closing told me that children are not responsible for their parent's debts and urged her to declare bankruptcy, but she seldom leaves the house except for when she has to go to the doctor. I'm still losing a lot of sleep wondering if I'm doing the right thing here. Is there any liability for me since, it is a joint bank account, though none of the money deposited in it is from my funds-its all SS income? Can her creditors come after me and try to get my house that she has no financial interest in at all?
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