I have a POA in place 3+ years now. He is in ALF stage 7A. We closed/cut up the cards back then. So now it in collections. One option is their next correspondence will make an offer to settle. Or l contact them and say he is not cognizant anymore
IMO he would need to be in a NH on Medicaid to even prove there is no money. SS can't be garnished.
If he is living with you he has SS u can use for paying his bills. Call your Office of Aging and see if they have someone who can help you. Some companies will negotiate for full payment. Sometimes consolidating all the cards by getting a lower interest loan helps. Then you just have one payment to deal with and a lower interest rate. But, he cannot charge anymore. As long as there is a balance you cannot cancel but you can freeze the accts. But, you will still be charged interest on the balance.
I so wish our kids were taught how to use credit. The cards make it hard to get out of debt. That minimum payment after a while doesn't even touch the principle. You have to put a sizeable payment on that card to bring down the principle. And that payment does not come off the balance until the interest is taken first. I pay off monthly so I have no balance but my cards interest is over 25% and I have very good credit.
No. You cannot. How in the world is a credit card company to know if those applying for credit are demented? There could be a case for expenditures done face to face with elders who are clearly demented, but not here. You may, if you are POA, come to some sort of agreement, especially if there are no funds, or simply do not pay. There can be no judgements against social security funds, but there may be leins against a home for instance.
If he STILL has a credit card, suffers dementia, and is being allowed to purchase and manage his money he will lose EVERYTHING whether to scammers or to credit expenditures.
Speak with the credit card company and get the cards cancelled if you are POA. If you are not POA and there is dementia it is likely too late to do this, but guardianship and protection of this elder's finances is now in order whether by the family or guardianship of the state.
which indicates that he’d need to be declared legally incompetent to void new contracts, and even then may be able to form contracts during periods of lucidity.
Does he have a POA? If not, ask an elder law attorney if it is too late to get one.
I would suggest that you consider the best way to help him to freeze his credit.
was he diagnosed before he got the credit card? Who is POA for finances? Were they aware of the use of the credit card after diagnosis? Were these legitimate charges or fraudulent charges? How old is the debt? None of these may make a difference though. This might be best taken up with an Elder Care Attorney. (and if no one is POA that needs to be addressed as well. Might have to file for Guardianship if he is not competent to assign POA. And if he is competent the credit card debt will undoubtedly have to be paid since his cognition would be intact)
Let it go to collections and DO NOT RESPOND or make any offers to pay.
His need for a good credit rating has expired.
I hope that you are able to get this situation resolved quickly.
Best wishes to you and your family.
If he is living with you he has SS u can use for paying his bills. Call your Office of Aging and see if they have someone who can help you. Some companies will negotiate for full payment. Sometimes consolidating all the cards by getting a lower interest loan helps. Then you just have one payment to deal with and a lower interest rate. But, he cannot charge anymore. As long as there is a balance you cannot cancel but you can freeze the accts. But, you will still be charged interest on the balance.
I so wish our kids were taught how to use credit. The cards make it hard to get out of debt. That minimum payment after a while doesn't even touch the principle. You have to put a sizeable payment on that card to bring down the principle. And that payment does not come off the balance until the interest is taken first. I pay off monthly so I have no balance but my cards interest is over 25% and I have very good credit.
If he STILL has a credit card, suffers dementia, and is being allowed to purchase and manage his money he will lose EVERYTHING whether to scammers or to credit expenditures.
Speak with the credit card company and get the cards cancelled if you are POA. If you are not POA and there is dementia it is likely too late to do this, but guardianship and protection of this elder's finances is now in order whether by the family or guardianship of the state.
A quick web search found this
https://www.upcounsel.com/mental-capacity-to-contract
which indicates that he’d need to be declared legally incompetent to void new contracts, and even then may be able to form contracts during periods of lucidity.
Does he have a POA? If not, ask an elder law attorney if it is too late to get one.
I would suggest that you consider the best way to help him to freeze his credit.
Who is POA for finances? Were they aware of the use of the credit card after diagnosis?
Were these legitimate charges or fraudulent charges?
How old is the debt?
None of these may make a difference though.
This might be best taken up with an Elder Care Attorney. (and if no one is POA that needs to be addressed as well. Might have to file for Guardianship if he is not competent to assign POA. And if he is competent the credit card debt will undoubtedly have to be paid since his cognition would be intact)