Should we assist our broke child?
Our married daughter, who is in her mid-50s, lost her well-paid job and now can supplement the household income just spasmodically by making and offering craftwork. She has actually been unable to find another position.Her other half, who is
the same age, earns income that covers their basic bills, however they have a huge home mortgage on which they lag in payments. Prior to her task loss, they developeddeveloped a big credit card debt, amounting to 85,000, which they now can not afford to pay off.We comprehend that they have a very bad credit rating and it is therefore not possible for them to negotiate a loan or organize an alternative mortgage.As her moms and dads, we are in a quandary regarding exactly what we could or ought to
do to assistto assist them. This fear is dominating our entire thinking every day and we even discover ourselves saying over it. We have considered moving home, however scaled down some years ago due to my hubby’s ill health.We have little spare cash, as we remain in our late 70s and do not understand what our own future will bring.We have considered equity release– however individuals warn us versus this. We are left going to pieces and do not understand what to do.LAURA