Desperately need advice for my moms debt im stuck having to pay for.
My mom is 62, over 50k in credit card debt from being a single mother for over 20 years, already drained her retirement savings, and isnt working atm so im stuck paying her bills in the meantime which I can barely afford myself. We can barely afford making the minimum payments on all of them each month which is over 1k while interest continues to rack up. Dont know what to do and need advice. Im well aware of the snowball method but she cant even afford the minimum payments atp along with her other bills and im not going to shovel all my money towards snowballing off all of her debt for the next decade in order to do so. Would a debt relief program like freedom, a debt management plan like nfcc, or bankruptcy chapter 7 be better for someone in her position. We need to drastically lower the interest/monthly payments at the very least to make it more manageable but if theres a way she could potentially get a fresh start without too many cons im all for that. We don’t have much to lose right now anyway. Im just afraid of her getting sued by creditors or something else going wrong like them trying to take her house which already has a lien on it from all this debt.