Filing on seniors
Because of health issues, we have recently become involved in my in-laws finances in California and have found out that they have incurred over $30,000 in credit card debt. They have NO assets and just receive their monthly social security as income. They are currently filing for Medi-Cal. They have been making payments of approx $900/month on interest charges alone. They need this money to help pay for in-home care following a hospitalization and in the future will need to go to a board and care facility.
We are considering having them cease payments on their debt; however, we are concerned about collection calls that will follow. There are seven credit cards. Should we contact the companies and tell them they are unable to pay?