My dad messed up by refinancing everything we have no money to pay for anything what should i do?

Andrew
He messed up our whole families lives by refinancing. he didnt know the interest would be higher and now he cant pay for it.. he is waiting to die so we can use his life insurance to at least pay for partially of the house..i am a helpless child to him, i need advice so i can help him.

Daysi
How old are you?

Catheryn
Ok, firstly depts of parents do not pass on to children.The worst case is that you will end up with nothing.But if you want something more you should do something to take financial control of your life.If your loans all come from one place, go and sit down with them and talk about it. If interest rates are out of control the amount you owe may become more than the value of what you have. Which is the killer.You might be able to change the situation so that you sell off some items, and repay others over a longer time (if the insurance is not too bad).Some institutions allow you to change your financing so that you can put all your loans under one, and so reduce your interest.Also, remember many states and countries make it illegal for banks and lenders to over burden you with debt, which means their loans could even be illegal.

Kendrick
Talk to a financial advisor - get the bills together and see what can be done. Are you working? If you are old enough get a job and help cover the mortgage payments - before they get behind have your parents see if they can negotiate a lower interest rate or re-fi again.

Ressie
oh oh I would personally recommend speaking with NHBS, Incjust like what my aunt did during her oh lonely wallet dayspls check if you have time http://www.newhorizon.org/Info/consumer.htmhope they can assist you and help you too@stay positiveGod loves you