Wisdom of TSF: Debt consolidation
-
@jegga said in Wisdom of TSF: Debt consolidation:
I missed something here, if they aren't living together now is it a good idea for your in laws to move together *? Also those houses sound pretty big for people living alone, it'd probably be a lot less hassle for them to have a smaller place.
It's my mother-in-law and HER father - Mrs TA's maternal grandfather.
And it isn't a good idea anyway, because they haven't lived together for nearly 50 years and she can't stand him for more than a few hours at a time.
BUT this is what you get when you're not adult enough to look after your own affairs.
Yes the places are too big for them so we'll definitely get them to basically get something as small as possible. Hopefully all tiles so the dog can't fuck it up too bad. But out here the prices are ridiculous because Sydney.
A three bed single storey on a fairly small block will probably be around $800k. If we can find one, and if it doesn't have its price driven up further by investors and Indian/Asian families.
Would be easier if the three of them (MIL, Grandfather, dog) all carked at once.
I'd miss the grandfather.
-
@NTA said in Wisdom of TSF: Debt consolidation:
@jegga said in Wisdom of TSF: Debt consolidation:
Over here at least poa stops the moment they pop their clogs so keep that in mind when the vultures start circling .... I mean grieving relatives come to pay their respects.
Yeah I think its the same here - so does that mean we need to ensure the right Executor is appointed on the will or something?
=================
You may want to check if it's the same in Aus but over here an Enduring Power of Attorney can have a clause which gives the attorney (presumably your wife) the power to create a will.
-
@JC said in Wisdom of TSF: Debt consolidation:
You may want to check if it's the same in Aus but over here an Enduring Power of Attorney can have a clause which gives the attorney (presumably your wife) the power to create a will.
Thanks for the tip JC. Will chase that up as part of the discussion
-
All jokes aside you'd have a built in babysitter, someone to mind the house and feed the pets when you're on holiday, someone who's always home to let tradies in to update whatever solar shenanigans you've just poured your savings into.
Also the mrs would be in threesome levels of relationship debt with you.
-
-
@JC said in Wisdom of TSF: Debt consolidation:
@jegga said in Wisdom of TSF: Debt consolidation:
Also the mrs would be in threesome levels of relationship debt with you.
... but that threesome might have his MIL looking on through the ranchslider.
Looking in or looking out though...
-
@Catogrande said in Wisdom of TSF: Debt consolidation:
@JC said in Wisdom of TSF: Debt consolidation:
@jegga said in Wisdom of TSF: Debt consolidation:
Also the mrs would be in threesome levels of relationship debt with you.
... but that threesome might have his MIL looking on through the ranchslider.
Looking in or looking out though...
Ugh
-
-
@jegga said in Wisdom of TSF: Debt consolidation:
All jokes aside you'd have a built in babysitter, someone to mind the house and feed the pets when you're on holiday, someone who's always home to let tradies in to update whatever solar shenanigans you've just poured your savings into.
Also the mrs would be in threesome levels of relationship debt with you.
- At this point we don't trust the MIL with teh kids
- She's not capable of looking after her own house
- She dotes on her pet. We don't have any
- If she lets tradies in the place would be stripped clean
- Mrs TA wants nothing to do with the bitch right now.
- @Catogrande - give yourself an uppercut
-
@NTA Having a spot of trouble losing the mental image..?
-
@Catogrande said in Wisdom of TSF: Debt consolidation:
@NTA Having a spot of trouble losing the mental image..?
You are one sick puppy.
-
Seriously though Nick, I can't see a downside to consolidating in that situation. Your MIL's net worth is her assets minus her liabilities, same as everybody else. Regardless of whether she owes money to the credit card issuer or her mortgage lender the sum is the same. The difference is the rate she's paying.
Have you had any problems getting the bank or CC company talking to you about your MIL's affairs? You may need a PoA if you are. A PoA would also help if you need to warn them not to offer her any other credit.
Check out the obligations of lenders in Aus / NSW because in many jurisdictions finance contracts can be voided if the borrower was not mentally capable. Usually you'd have to prove the bank or lender knew about the incapacity. That might not help for the current situation but certainly would if you use a PoA to warn them and they gave your MIL more credit anyway. Most major banks will also have specialist teams who deal with people with mental health issues, for example monitoring spending for erratic patterns of transactions.
-
@JC it was Saturday night when we discovered all this, so the bank people who can help with this are not on the clock until tomorrow morning.
MIL says the cards aren't new, but that she's had them since before she retired. We'll find out I guess.
Proving the mental thing would only work if we could pin it down to after the death of her mother i.e. depression or something. Like you say: proving the bank knew is the tough bit.
PoA is about the first thing on Mrs TA's list for tomorrow. She's taken two days off work at short notice to start filtering the bullshit, and taking steps to ensure it doesn't happen again.
Thanks again
-
In Sydney, I'd have thought two large houses could be converted into two small houses and a truckload of cash?
It's pretty cold, (but then I don't know Granddad) but, he's presumably well into his 80s and probably not got that much further to run. And presumably your MIL is lined up for a substantive chunk of his freehold house?
Might just be a temporary cashflow problem.
-
@Chris-B. said in Wisdom of TSF: Debt consolidation:
In Sydney, I'd have thought two large houses could be converted into two small houses and a truckload of cash?
One small house is better - because they're going to be sticking around in this part of Sydney (to be close to family
) and there isn't a lot in the way of suitable houses i.e. single storey, 3 bed, 1-2 bath. A lot of them are being sat on by people waiting to jump upwards. Timing is key.It's pretty cold, (but then I don't know Granddad) but, he's presumably well into his 80s and probably not got that much further to run. And presumably your MIL is lined up for a substantive chunk of his freehold house?
Might just be a temporary cashflow problem.
Yeah mate and Mrs TA and I have discussed that. He's 90 next year, and a great old bloke, but with the wife gone almost two years, and a range of health and mobility issues coming to the fore, he's pretty short on.
The problem is the MIL's brother who is a shunt, and entitled to half of everything. He's been fucking sly about a few things, hitting his dad up for car repairs that turn out were his fault (hit someone) and he's basically lying to everyone's face. He was brought up as a kid brother and doted on by his now-deceased Mum.
But everyone tolerates him. No idea why. That shit will come to a head if Mrs TA's brother confronts him. But the money is gone, and no-one kept track of it. So best to just get on with it.
-
@NTA said in Wisdom of TSF: Debt consolidation:
@Chris-B. said in Wisdom of TSF: Debt consolidation:
In Sydney, I'd have thought two large houses could be converted into two small houses and a truckload of cash?
One small house is better - because they're going to be sticking around in this part of Sydney (to be close to family
) and there isn't a lot in the way of suitable houses i.e. single storey, 3 bed, 1-2 bath. A lot of them are being sat on by people waiting to jump upwards. Timing is key.It's pretty cold, (but then I don't know Granddad) but, he's presumably well into his 80s and probably not got that much further to run. And presumably your MIL is lined up for a substantive chunk of his freehold house?
Might just be a temporary cashflow problem.
Yeah mate and Mrs TA and I have discussed that. He's 90 next year, and a great old bloke, but with the wife gone almost two years, and a range of health and mobility issues coming to the fore, he's pretty short on.
The problem is the MIL's brother who is a shunt, and entitled to half of everything. He's been fucking sly about a few things, hitting his dad up for car repairs that turn out were his fault (hit someone) and he's basically lying to everyone's face. He was brought up as a kid brother and doted on by his now-deceased Mum.
But everyone tolerates him. No idea why. That shit will come to a head if Mrs TA's brother confronts him. But the money is gone, and no-one kept track of it. So best to just get on with it.
Yeah,sounds like Enduring PoA as soon as possible over both their affairs. Then Mrs TA can ask uncle what the deal is with the outstanding money without being told to mind her own business. Better still, get the right kind of PoA and write the prick out of the will too, who'll be laughing then!
Maybe also time for an intervention for Uncle. "Why are you lying to people who should matter to you - what are you a psychopath?" might make him take a thought to himself. If not at least he'll know you're onto him.
