Financial Problem Tips?

[lqfocus06 10+ year member]

Hey y'all.. I never really got around here this much. But I feel more comfortable coming here and ask you for a possible help based on your possible very good knowledge or experiences on a bad financial problem.

The problem is not me. The problem is my parents' financial. They're in a bad debt, and now they're in default. I'm not completely understanding this default thing, but as far as I know they are not making their legal obligation. I'm worried for my parents.

I have pretty much nothing to worry about, or perhaps I have to worry about it, because I am hard of hearing, and deaf enough to be eligible for state's full support going to college in Washington, D.C.. Basically, the state is paying me to go to college because my deaf parents don't make enough money to support me to go to college.

The point is here, what can my parents do? They are over 50,000 in debt. Their payment dues are sloppy (ie: due on the 5th, due on the 12th, due on the 25th). They get two paycheck monthly, one biweekly, obviously. One paycheck is not enough to pay all bills on time. They have priorities to make payments such as mortgages, electricity, and God knows what else because I don't know their bills completely.

Question is what can they do? Their credit score is not good enough to make massive loan to payoff all debt and have one due. They have more than 4 credit cards that are nearly maxed out. They need to have plenty available in credit cards to make loan. Other problem is, I do not think my father is willing to do anything to find out the solution. I really want a very good recommendation what they can do.

Any help is really greatly appreciated.

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[faulkton 5,000+ posts]

ask Obama for some monies.

 

[BobbyDD 10+ year member]

They should start spending less than they make.

 

[squeak9798 5,000+ posts]

They need a plan.

 

[faulkton 5,000+ posts]

buy some lotto tickets

 

[lqfocus06 10+ year member]

buy some lotto tickets

But you know the odds ****. Luck is small. I would prefer to save money for the bills, ya know what I'm saying?

 

[97gp 5,000+ posts]

But I feel more comfortable coming here and ask you for a possible help based on your possible very good knowledge or experiences on a bad financial problem.

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[John3000 10+ year member]

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[jadon087 10+ year member]

Call Dave Ramsey he'll know what to do.

 

[Lambo911 10+ year member]

They need to want to fix it, not you.

 

[AcidicDreams 10+ year member]

They need to organize their finances and then consolidate... it's not rocket science, just clear rational thinking plus a strong desire to put some time and effort into cleaning up the mess...