I am trying to talk my father into contacting a sacramento bankruptcy attorney. He has a good amount of money coming in from military retirement, SSS, and military disability. The problem is that he became a credit addict. He has two mortgages and a car loan plus many other debts; such as: personal loans, store credit and credit cards. He barely has money for food now after all of his bills get paid. I am not sure how to talk him into the bankruptcy.
He thinks it’s honorable to pay all his debts. Of course that’s good in theory but he needs to live and these companies preyed on him. If I didn’t regularly lend him money he would be in big trouble and start defaulting on things. The other option that I am considering is getting him to sell his place and move with me and my fiancé to another city. He would either have his own room or a separate guest house if we could swing it.
I think he may be reluctant to move. This was the home that his wife recently died in and he may not want to move due to memories. He also loves the location. But it’s an hour from the city. I think he is starting to have some memory and cognition issues and do not think it would be good to leave him living alone. He is a stubborn old man.
If he went through bankruptcy then maybe he could arrange payments for some things like the house while writing off others that are less important. It would also make it easier for me to help out with things. I think a new place would be better. The current house needs too much work but I’m willing to compromise and help with repairs is he is.