r/Debt•
j_ellybees

My parents are in massive debt and I'm considering recommending bankruptcy

My parents (58M, 54F) are 75k in debt. My dad went through medical emergencies last year and my mom also went through her own medical procedures. My dad didn't work for a year and a half and that massively cut their income. My dad struggles to find work due to his disabilities and he finally managed to land a job but it's not the highest paying. I reviewed their expenses and they don't spend on much unnecessary things. I think they're just stuck in a hole and can't dig out of it. They have no college education so they struggle to find higher paying jobs, especially for their age.

Additional info:

Income: monthly: ~3-3.5k (my dad's job is new so guestimating here)

Debt: ~75k, 50-55k is credit cards and loans (one debt consolidation), ~5k in medical debt

Homeowners, their mortgage is ~1k so I would rather them not lose the house

No car debt - they buy only used cars in cash

Household: 3 people including my brother (18)

Based on the info above, is it wise to recommend they see a bankruptcy attorney so they can potentially start over with a clean slate?

Posted Jun 12, 2026, 8:23 PM UTC

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