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What happens to debt acquired by a parent who now has Alzheimers and is unable to pay?
Wiki User
∙ 19y ago
This is an issue governed by the state of residency laws. In most cases persons who are mentally ill or have a mentally dibilitating disease such as AD, are subject to a competency hearing. If the court finds the person is unable to handle their own finances, a guardian and/or conservator will be appointed. The usual procedure is the guardian files BK for the insolvent person. However, ALL actions are subject to the approval of the governing court. As is obvious this can be very complicate, the assistance of an attorney is the best option.
Wiki User
∙ 19y ago
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