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amandal0514

Need Advice for Ex-MIL on Credit Card Debt and Retirement

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My ex MIL is in her early 70s and has 1 Discover card that she's had forever and has been paying on for forever. She's legally still married but they haven't been together since around 2002. She owns her home (making payments) and is thinking about retirement. I didn't ask for exact figures but her Discover card she thinks has over a 20% APR and her monthly minimum is $200. She tries to pay $225 each month and can't afford much more than that. The problem is she won't be able to afford it once she retires.

 

She got a call from someone about a federal program to erase credit card debt. They told her with the $225 a month she could pay off the debt in 3 years. I'm pretty skeptical but they're supposed to be mailing her paperwork on it.

 

We live in Texas. Any advice? Would Discover work with her directly to help?

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Definitely a scam. No real federal program will call you out of the blue. You have to search for them.

 

Is that 1 Discover the only CC she has?

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My ex MIL is in her early 70s and has 1 Discover card that she's had forever and has been paying on for forever. She's legally still married but they haven't been together since around 2002. She owns her home (making payments) and is thinking about retirement. I didn't ask for exact figures but her Discover card she thinks has over a 20% APR and her monthly minimum is $200. She tries to pay $225 each month and can't afford much more than that. The problem is she won't be able to afford it once she retires.

 

She got a call from someone about a federal program to erase credit card debt. They told her with the $225 a month she could pay off the debt in 3 years. I'm pretty skeptical but they're supposed to be mailing her paperwork on it.

 

We live in Texas. Any advice? Would Discover work with her directly to help?

 

1) it's a scam

 

2 ) discover likes to file suit.

 

3 What would she be able to pay once she retires, and what's the total amount due?

 

what's your credit like - you could take out a loan and pay it off for her? do you trust her?

 

- have her put you on the deed for security have her pay you back @ 7%.

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