Ok, I am at the end of my rope, what do I do? I am tired of supporting my parents. My husband and I have no retirement.

It isn't so much that bankruptcy is harder to file, it is more inconvenient. All filers must complete financial education classes, and people cannot decide for themselves if they will file a Chapter 7 or 13--attorneys tell them what they are eligible for. A great number of retired people qualify for Chapter 7. Then there are rules regarding tax refunds. Some Ch. 13 filers can keep theirs; Ch.7 filers cannot, and so forth.

Hey all, Good morning! I just heard a funny story... and good lesson for us all. My financial advisor's mom is in another state living in an adult care community. She decided she wants a Cadillac. She got a ride (cab or van or something), walked into the dealership with her walker!! She doesn't have a driver's license, she can hardly walk and they were showing her cars!!!! She finally fell and they couldn't get her up so they called the EMT and contacted the facility and the family. It's funny, and makes me feel better about my mom's dentist who made a date with her to show her an elder care facility hours away from her family (we cancelled that and switched dentists).... The car dealers, the credit card companies, everyone out there is in business to make money. They don't do a good job of assessing if a car shopper has a drivers license and the ability to drive, let alone walk.... they are first and foremost interested in making money on the payments and the interest. Hoping that all credit card companies will stop the use of cards is not fail safe. There is some credit card company that will take on the risk and put your family further in debt. I agree with the people who say take the cards away. I don't know what the solutions are (hopefully there are some that will work), but I do encourage all of us to be careful to set up ways to protect ourselves and our parents from the money makers. I'm a capitalist and believe in business enterprise, but we as individuals have to be honest and careful not to buy what we don't need.... Slow and steady wins the race! Have a GREAT day! Thank you all for being here. I love your stories and expertise... makes me feel not alone anymore.

son of a b!tch! these stories make me freaking MAD! i hope all these people burn in hell.

The trouble with modern parents is they want their independence & to keep their homes even after their money runs out! Many modern adult children don't want parents living with them either, because of so many factors. This makes the government have to take over & help. I will use any & all resources I can to help me with my mother who is poor. My deceased father was a pain too, but he stopped wasting money when he retired. I'm so grateful for that. Don't let emotions, pride, guilt or fear of parents rule your decisions. They are dependent so you & your husband are the only responsible & rational adults in this equation. Get lots of professional advice & act immediately on it. A good lawyer in Elder-care Law is very rare make sure yours is a great one. Good luck. A good life is not for the timid. I've been learning to take responsibility for & from my mother, even though she wants to be in charge, even with her dementia!

You know my dad is something. However, I do want you to know that his parents when they were running out of money moved into a government section 8 apartment, and never asked for help. They received food stamps. They were kind and adored each other. Even when my Grandmother had to be put into a nursing home because of severe Alzheimer's, grandpa would go and see her everyday faithfully, even through she no longer recognized him. So not all people are like this. Why my dad is, I have no clue. I also have a friend who has a wife who had early onset Alzheimer's. She went down overnight. She had to be put into a special care unit. He goes everyday and feeds her supper after work and has been doing this for three years now. I have found an elder care lawyer that I have researched and am in the process of consulting him. I am also working with a social worker. We are also looking into long term care insurance for ourselves, and also retirement plans and Roth Iras. I don't care if when we are older we have to sell our home and move into a small apartment as long as I am with my husband I will be happy. My husband and children are the light in my life.

Reindeermama, I am SO happy to hear of the steps you are taking. You go, girl! Please keep us posted from time to time about your successes and your struggles. Significant changes are seldom easy, Know that we are on your side!

The time has come to say bye-bye to the lifestyle that you are in. Find: Housing elsewhere for them. 2) A Financial planner for them. 3) Counseling for yourself. 4) Check Life Insurance Policies on them ( if any). Be sure that you are the beneficiary.