Hello everyone- My father has ~$31K in credit card debt over 7 cards with very high interest rates. He got a consolidation qoute from one of these debt consolidation places to reduce it to $25K and pay over 55 months. I am fortunate enough to be in a position to help. Do i let him consolidate and pay off the $25K myself, or do simply take the 7 credit cards and call them to get payoff qoutes? Hes not too concerned with his crdfit score anymore at 77 years old.
If he is not worried about his credit score why are you paying it off?
@JANO10 Oh you mean he should just ignore them? Yeah - guess havent considered that or bankruptcy
hes broke! 77 with a mortgage and almostnno savings. Has his social secuirty and a little savings is what he has left.
So if you pay off his credit cards he’ll just run up more. Have him declare bankruptcy. He doesn’t need a credit rating now.
@PEY havent considered that…
Agree. Don’t pay them. They will come out of the estate.