Senior with Dementia

February 4th, 2012 by Questions

My Dad is 86 years old and is in a long term care residence. I am the only child and have power of attorney, he has about $5000 in a bank account, and $15,000 in credit card debt. I have been making the min. Payments every month. I thought Of calling credit card companies to reduce his interest rate, someone mentioned filing bankruptcy for him, does this make sense?

Posted from: Quebec

Questions

One Response to “Senior with Dementia”



February 04, 2012 at 8:36 am, A licensed trustee said:

You should contact a trustee to discuss your dad’s situation, but it is unlikely he needs to file for bankruptcy.

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