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Roger, Attorney
Category: Legal
Satisfied Customers: 30902
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
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I am handling my father's finances. I do have durable power

Customer Question

I am handling my father's finances. I do have durable power of attorney. He has $48000 in credit card debt and owes $34000 on a second mortgage. His bank account is -$700. I think at one time his identity was stolen. I say this because he has nothing to show for the amount of debt owed. I want to know if filing bankruptcy would be beneficial for an 83 year old's best interest, or if there's another way to go. I don't have any funds available to pay a fee.
Submitted: 6 months ago.
Category: Legal
Expert:  Roger replied 6 months ago.

Hi - my name is ***** ***** I'll be glad to assist.

Filing bankruptcy could be beneficial to your father as it would rid him of these debts and make life easier for him as a result of getting out from under the debt.

Expert:  Roger replied 6 months ago.

If he were able to file bankruptcy, he generally can keep exempt property and get rid of the debts. Here's a good link you can read about the exemptions:

Expert:  Roger replied 6 months ago.

As long as you believe that he can keep the things he wants and escape debt, it's likely a good idea.