Sister in trouble again

My sister is in trouble…she pays the mortgage and groceries and her spouse pays the untilities, insurances, etc. She has been advised that their water, electricity and telephone will be cut off on Friday…she is in shock…her husband has been laid off in the past and will be laid off again…they cannot get ahead and therefore these bills never got paid…the total amount is about $4000…they cannot get bank consolidation as the bank refuses…should they consider bankruptcy…their house is not worth selling as it needs alot of work and they have been putting it off because of the fact that the husband has been laid off quite abit…please advise – p.s. – my mother is considering bailing them out for the 4th time…she is using up her savings and I feel that she shouldn`t get involved…thank you.

Posted from: Ontario

One Response to “Sister in trouble again”

A licensed trustee said...

I think your sister should speak to someone – a credit counselor, a trustee, an accountant, some one experienced in sorting her type of situation out.

If there is no equity in her house it will not be lost becuase she has filed bankruptcy, BUT the real question is can she afford to stay in the house. If she is unable to pay her utilities then perhaps she should give up the house and move into a rental unit where all the utilities are included – at least then all she’d have to worry about is the rent.

All you can do is suggest she speak to a professional and hope for the best.