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


One Response to “Senior with Dementia”

, 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.

Please post a follow up comment below:

(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)