How do I handle parent's massive debt?

I may sell the car if my dad doesn't improve because I don't want him driving on a "bad" day. I am not a co-signor - these are credit cards from 2016 that I stopped paying minimums on when the medical bills started coming in. My "me" paying I mean using my parent's checkbook. I'm guessing the consensus is to just let the creditors/collection agencies know in writing w/o using my personal information that their money is being used for necessary life-saving home health care?

The state of limitations for these types ofdebts depends on state law so it varies from place to place.

About the car, is it still being used? If your parents are not driving anymore, and you're not using it, then you should sell it. The longer you wait, the older the car, and the less money you will get.

The priority for using money is : food, shelter, utilities so they don't get cut off, then other essential expenses. Non-essential bills should take the back burner until you have money to pay. And it sounds like you're spending money in that order already.

I know little about Medicaid, NH, etc. compared to other posters. Lets wait for them to chime in and give you some good advice.

AJ, I hope you are not a co-signer or otherwise listed on their credit cards, because the creditors don't care who pays, even though your parents purchased the goods or services on credit. I would still recommend consulting with a debtor's attorney. Find out how much the initial consult costs - I think this would be a good use of a small portion of that $15k. Then contact your local Council on Aging to talk to someone about paying large health care costs. I am assuming that $7000 per month in home health expenses exceeds their income. They need a plan. They did not think about this ahead of time and now you are stuck with finding a solution. Unfortunately their options may be limited and they may have to accept something less than their ideal. Good luck.

They only have about 15,000 left including a car which I don't feel comfortable selling. This will dwindle very fast with my mom's $7000 home health bill which is why I'm not using any of their money to pay anything except bills and home health. My mom hates nursing homes, and my dad does not qualify for NH only assisted living. However, every assisted living in town is full and requires private pay for a few months until Medicaid will kick in and my parents don't have a few months of funds for a nursing home. I'm trying to get a payee but no one will call me back.

Credit card debts BELONGS TO YOUR PARENTS - NOT YOU. You do NOT have to pay anything. They can not go after you.

Credit card debts are UNSECURED meaning if your parents can't pay, the credit card companies CAN NOT make them or take any of their possessions or put a lien on their home if they have one.

Credit card companies might have turned their account balances to their collection agencies or sold to outside collection agencies who will call incessantly to collect their money. These collection agencies are the worst of the worst, the bottom feeders IMO. They will threaten and lie to get any money from any one. DO NOT give them ANY bank information of your parents or you. They will go in and wipe the bank accounts clean.

After so many years (I forgot how many) of not collecting, the debt is considered 'forgiven' LEGALLY, meaning they can not go after your parents anymore. DO NOT CALL OR CONTACT them to CONFIRM the debt in anyway, shape or form because then the clock will reset.

For hospital and nursing home debts, call and explain to them your parents situation. Ask them to waive any interest and to accept whatever amount your parents can pay each month, be it $5 or $10. As long as payments are being made, they will know your parents are not deadbeats.

In some cases, the hospital or nursing home could sell your parents debts to a collection agency. For example, your parents owe the hospital $500, and haven't paid it since 2016. A collection agency approaches the hospital and gives the hospital $5 to buy the debt, so they can have the right to collect the $500 and take a chance of not collecting any. If this is the case, then the hospital has been PAID. The right to collect the debt now belongs the a bottom feeder. Then you must take the precautions I mention above.

I'm not sure about the advisability of "holding on" to your parents' savings. If the money they have wouldn't touch the sides of the debt and is being used to pay for their care that's one thing; but what sort of sums are we talking about? Are you sure it won't disqualify them from receiving financial assistance, for a start?

Write a standard letter to all creditors explaining the situation. You write this letter from your parents' address and sign it per pro your parents. Include nothing that identifies you as a contact or could in any way imply that you accept any kind of liability.

If you don't have the time to deal with a bankruptcy, you're finishing school and starting a new job, and your parents' day to day care is provided by paid workers...

When did you become aware of their financial situation? How did you acquire responsibility for sorting it out? And could someone else perhaps be in a better position to deal with it for them?

Whatever you do, don't contact your parent's creditors directly. I did that with my dad's debts and the creditors then began calling me constantly. My dad was dying in a nursing home but they kept calling and calling. I finally sent a written notice to each explaining that my dad was dying in a nursing home and that the debt would not be paid. I also requested of each that they stop calling me. The calls slowed to a trickle and eventually stopped. I thought calling my dad's creditors was the right thing to do but once they had my phone number they were relentless. And I wasn't attached to one nickel of my dad's debt.

"You" don't owe anything. It's your parents' debt.

Are you POA?  Why can't they be in a Nursing Home and apply for Medicaid?
How is their housing being paid for?  How certain are you that they will get the waiver? In some states, availability of waiver funds is very limited.

They can, but not without help and as I said, I don't have the means right now to do so.

Can they file bankruptcy ?