Disabled Mother - Irresponsible with Credit - How can I control her finances and stop her from using credit?

Hello,

My mother is disabled with mental illness and is on disability. She is unfortunately not able to make the best decisions with her money. For instance, telemarketers and informercials frequently con her into buying things she can't afford nor does she need.

In addition, she had an x-boyfriend that took advantage of her and had her run up her credit cards for him.

What can I do to prevent my mother from being able to have and use a credit card? Do I need to be her guardian? If I am will I become legaly responsible and liable for her debts and actions?

Any other suggestions on how I can get rid of her credit?

Thanks for your help!

A power of attorney would only give you access to her finances. Your mother would have to be of sound mind and agree to sign the power of attorney. You would not be her guardian. That would take a court order and might not be so easy to get.

As POA you would not be personally responsible for any of her debts. However, you could close her credit card accounts or at least take the credit cards away from her. Put a freeze on her credit report so that she can't get any new accounts.

You could go to an attorney and apply for POA-Power of Attorney. All her SSI checks would be signed over to you. Her bank statements will have you down as her guardian over her account. You would be responsible for her financially-however, you would use her money to properly manage her money. Take good care of her money and secure all loose ends with deeds and mortgages.

You would apply for POA under the circumstances that she cannot property manage her finances due to a mental disability.

I know how frustrating this can be. Talk to a lawyer, if she is mentally ill, he may be able to work a deal out (or make a settlement agreement) with her collectors. Act now, before it gets more out of control.

I see things like this happen all the time. Best of luck.