Helping a friend in Nebraska

Posted by Barbara Veleba on November 26, 2004 at 19:53:26:

A group of us have a friend who took out a home equity loan in December of 2003 for about $23,000. This was for some repairs to her home and a consolidation of her credit cards bills. Her job was eliminated in February of 2004; she received severance pay for a short time, then unemployment. Her unemployment ran out in October and she has virtually NO money other about $175 per month in retirement benefits from a former emloyer. Foreclosure proceedings will start unless a payment of $380 is received by Tuesday. Her home is assessed at around $60,000, and it is very outdated. Our friend is 55 years old, single, and has very little skills. Even though she has applied at numerous companies, she only received one interview during all this time. In trying to be kind in evaluting her, we would probably agree that she is somewhat "inept" both physically and mentally and it may be unlikely that she will find unemployment.

Does anyone have any recommendations on how her friends can make the best decision to help her? We were told that making a payment by Tuesday would buy her some time, but it may be difficult to sell her home time at this time of the year. She declared bankruptcy in 1992, and we don't know if that can be done again. If it can, would that be a good choice and what would it solve? We are planning to contact some assistance agencies in Omaha, but we don't even know the best recources.

Any advice would be appreciated. Thank you

Follow Ups:

• Re: Helping a friend in Nebraska - Janie 20:55:21 11/28/04 (1)
  • Re: Helping a friend in Nebraska - Janie 09:07:03 11/29/04 (0)

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: A group of us have a friend who took out a home equity loan in December of 2003 for about $23,000.  This was for some repairs to her home and a consolidation of her credit cards bills.  Her job was eliminated in February of 2004; she received severance pay for a short time, then unemployment.  Her unemployment ran out in October and she has virtually NO money other about $175 per month in retirement benefits from a former emloyer. Foreclosure proceedings will start unless a payment of $380 is received by Tuesday.  Her home is assessed at around $60,000, and it is very outdated.  Our friend is 55 years old, single, and has very little skills.  Even though she has applied at numerous companies, she only received one interview during all this time.  In trying to be kind in evaluting her, we would probably agree that she is somewhat "inept" both physically and mentally and it may be unlikely that she will find unemployment.

: Does anyone have any recommendations on how her friends can make the best decision to help her? We were told that making a payment by Tuesday would buy her some time, but it may be difficult to sell her home time at this time of the year.  She declared bankruptcy in 1992, and we don't know if that can be done again.  If it can, would that be a good choice and what would it solve? We are planning to contact some assistance agencies in Omaha, but we don't even know the best recources.

: Any advice would be appreciated.  Thank you


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