My grandpa is 10k in debt… no job and no way to pay… what now

My grandfather (82M) is in debt and I have no clue how to help him. He doesn’t have a job, barely speaks English, and his health makes it impossible for him to work. I just found out he’s way behind on payments for a Macy’s Amex credit card. Apparently, my uncles convinced him to buy a $10k cabinet, but the interest got out of control and he stopped paying.

The only reason I even know about this is because he came to me with a letter from a lawyer and asked me to explain it. From what I can tell, it sounds like they’re planning to sue unless he calls them. But I don’t see how they expect him to pay—he has no money and no way to get it unless he takes out a loan, which isn’t really an option.

I want to help, but no one in the family has enough money to cover this, and I’ve never even had a credit card myself, so I have no idea what to do. What are his options?

This is on your uncles. They pushed him into buying something he couldn’t afford—make it their problem. Call them out and remind them what they did. Maybe they’ll step up.

Oli said:
This is on your uncles. They pushed him into buying something he couldn’t afford—make it their problem. Call them out and remind them what they did. Maybe they’ll step up.

Talking to the uncles is a good idea, but unless their name is on the debt, Macy’s and Amex won’t care. It’s legally on your grandfather.

@Paz
Yeah, obviously.

Oli said:
@Paz
Yeah, obviously.

Then why would they go after the uncles?

Paz said:

Oli said:
@Paz
Yeah, obviously.

Then why would they go after the uncles?

I meant that they should take responsibility since they caused this mess. Your grandpa is 82—he probably doesn’t even care about his credit at this point. The stress shouldn’t fall on his grandkid, it should be on the people who put him in this spot.

You have a couple of options. One is to call the bank and ask about a hardship program. You can check online for details before calling or even use Amex’s chat service. The other option is to let it go to collections and try to negotiate a lower amount once a debt collector gets involved.

If your uncles talked your grandpa into spending $10k on a cabinet he couldn’t afford, this might actually count as elder abuse.

Don’t talk to their lawyers. If they sue, let them. He has no assets, so they won’t get anything anyway.

See if he qualifies for a small personal loan with a lower interest rate. That might help pay off part of the credit card. If that’s not an option, he should call the credit card company and explain the situation—sometimes they’ll lower the balance or reduce interest if he agrees to close the account.

Your uncles should be paying for this. Who lets their dad go into debt over furniture?