Return to the Household Finances Forum | Post a Follow-Up

 o
Dad declared bankruptcy.

Posted by Cube1067 (My Page) on
Wed, Oct 26, 05 at 18:06

Well, the saga of my 72-year-old father's life-long poor money skills continues with his declaring bankruptcy. I suggested he do so, and for once, he took his daugther's advice. Of course I told him this in August and I mentioned the October 17th spectre. He didn't act until September 22nd, but managed to get filed before October 17th. I had to give him filing money and appraisal money.

Oh, well. I think it's better for him. He's got no money saved, lives on a fixed 30K pension, and had too many credit card bills to handle. He still manages money poorly. I forsee him accepting offers from any new credit cards coming his way.

I wish I could make him learn from his mistakes.

Maybe I'm the one that's supposed to learn from his mistakes.


Follow-Up Postings:

 o
RE: Dad declared bankruptcy.

cube1067,

Hi again, friend from way back when.

I'm sorry about your father's pickle.

Not a pleasant situation, for sure.

Isn't it difficult to compehend how someone can continue making the same mistakes over and over?

And as for learning lessons, there's no rule that we can only learn from our own foolish mistakes: we're fortunate if we can, keeping our eyes and ears open, learn from the mistakes that others make.

If we don't boss our money - it'll boss us.

Learning how money works is an interesting hobby - that pays well.

I've spoken here approvingly previously about Canadian MoneySaver, a plain paper magazine with no ads and few illustrations - mostly text. They asked what subscribers wanted, so sponsored seminars with their resource people and meetings of the subscribers in a number of cities. The monthly meeting here was last night.

On Tuesday evening, the editor came to speak in London and offered a number of good ideas about money management and tax savings. Son went with me, daughter wasn't able to.

The overhead transparencies that he used are available at www.canadianmoneysaver.ca/tipsandtools.

A number of useful concepts relevant for everyone, but some of the material is relevant for Canada only.

Have a great weekend, everyone.

ole joyful


 o
RE: Dad declared bankruptcy.

He still manages money poorly. I forsee him accepting offers from any new credit cards coming his way.

One would think that having bankruptcy on one's credit record would cut down on the credit offers, but I suspect that will not be the case. Is there a way you could quietly put his name on the do-not-send-junk-mail lists? That might cut down on the temptation that arrives in his mailbox.


 o
RE: Dad declared bankruptcy.

seriously, there is also a list that you can sign up for that cuts way back on the credit-card offers. I can't remember where it wsa, but I signed DH & I both up for it, and it worked for a while. Nobody can send us card offers except companies we already do business with.

I think it's worn off, though.

I think one other tactic (or maybe the same one?) is to block credit checks by random credit industry businesses (like credit card companies). Once you block that, then no one can get credit info on you unless they have a specific reason (you've applied for a loan, or something). This keeps credit-card companies from doing speculative searches for likely candidates, and then sending offers in the mail.

Might be worth investigating; I think you have to sign something, so you'd have to get DF to actually DO the request, but maybe you could get him to.


 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!


Return to the Household Finances Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.


Learn more about in-text links on this page here