80 year old mom needs advice

[andy158]

My 80 year old mom needs financial advice and I am hoping I can find some here. She is widowed and lives alone. She lives in West Virginia and filed chapter 7 in 2005. Her total monthly income is around $1235 (pension and social security) . Her rent and utilities come to $650 per month. Her other expenses such as car insurance, life insurance and prescription drug co-pays total $150 per month. She has cc's with balances totaling $5800. The cc companies have rate jacked and payment jacked her until she can't afford the minimum payments anymore without depleting what little cash she has left each month. She doesn't have money left over for food to last all month if she makes just the minimum payments. My sister and I are sending her money every month to keep her in groceries. I cannot continue to help due to my recent bk 13 filing and loss of hours at work. She has no assets other than a 12 year old car. The cc's are calling her daily for payments she just doesn't have. She refuses to relocate and move in with one of us and is very independent and in reasonably fair health.

Any advice will be appreciated. Thanx

[Flamingo]

You and your sister (or yourself if she does not live near you) need to make an appointment for a consultation with an Elder Care lawyer concerning your mother and her present situation and what needs to be done for her care. It sounds like she cannot control her financial affairs and you and your sister may need to step in and get rid of the credit cards. The $75 or so you will spend for a consultatoin with that lawyer will be the best $75 or so you ever spent...believe me. Best of luck to you!

[SleepWellNow]

You may be able to meet with your local Consumer Credit Counseling Services. My husband took his elderly mother there and the consultation was free. It may be a good place to start.

[Dst1]

I agree with the Big Pink Bird.

Let me see if I have the facts straight.

In 2005 when she was 75 she filed chapter seven. Here she is at 80 years old 6k in debt again. This isn't a pretty picture.

Elder care is a difficult issue. Legally they are adults. But just because she is in good physical health it is an indisputable fact that cognitive function is declining. Sometimes that shows up in an inability to manage financial affairs.

[momisery]

I would like to know why she is in debt again?" From what I can see she has 1235. as income, her bills are 800. She only has 435 left over each month for food, clothing, gas and maybe personals, not a heck of a lot of money left to live on really. I would say she is in debt because she has charged things that she needs. for example has she hit t he donut hole on drugs so she had to charge those? Any extra doctor expenses, dental, or eye doctor too? Does she have a laundry that cost too, even with your own machines for repairs. It cost a lot too live, too much for most older folks, hence the reason you hear about them eating dog food from time to time or doing without medications. I would really find out what she is buying, it could be she simply can not make it on that low of income verse what it costs to live to day. Then, I don't know what to say as an answer to her problems other than a roommate maybe?

[WhatMoney]

Your 80 yr Mom should survive just fine on the $400+/month she has left for food and the rest. If she has prescription expenses she may qualify for the Part D LIS. All she needs to do is stop paying all the credit card bills, if she hasn't already. Her income is exempt and it doesn't sound like she has any assets that are not exempt. If you are saying she has other expenses, like gambling or high end drugs, well then she needs a budget and help for that. But otherwise it's a matter of protecting her exempt income from the creditors, and stopping the phone calls.

That's not too hard with SS and pension income. See the Collection Forum for ideas and advice. More and more seniors are in your Mom's situation.

[BCA2009]

Your 80 yr Mom should survive just fine on the $400+/month she has left for food and the rest. If she has prescription expenses she may qualify for the Part D LIS. All she needs to do is stop paying all the credit card bills, if she hasn't already. Her income is exempt and it doesn't sound like she has any assets that are not exempt. If you are saying she has other expenses, like gambling or high end drugs, well then she needs a budget and help for that. But otherwise it's a matter of protecting her exempt income from the creditors, and stopping the phone calls.

That's not too hard with SS and pension income. See the Collection Forum for ideas and advice. More and more seniors are in your Mom's situation.

I would suggest she change her phone number, and forget about it. They can't garnish her wages, and she has nothing they can take even if they get a judgement against her, which they probably wouldn't bother with for 6K.

[luv1vet]

Seniors in distress

Andy, we went through the same with my mom (age 80) who lives on half that amount. We paid off the mortgage balance of $6000 and began giving her a small amount monthly to cover her expenses. We later learned that the bleeding was in the area of insurance. Homeowners, flood, auto insurance and life insurance were eating her alive. She'd attempt to maintain those payments out of her ssi, then would charge other things like food and meds. We managed to get her on a SSI program that paid for her meds with only a $5.00 deductible. Canceled various insurance except what the children could come together to pay a yearly premium on. Bottom line, she could no longer afford the car. Gas, insurance, and upkeep was out. She now joins with other seniors who carpool to the grocery and other essential places about twice a month and enjoys the company. A senior lift bus is also available in some communities. She made a good adjustment once she recognized what was defeating her. We couldn't get to the bottom of her issue until we looked at her insurance bills and credit card statements. They told the whole story. Now we pay her largest yearly expense, which are her property taxes and are not burdened with a monthly contribution. Where there is a will, there is a way!