According to the bills pinned on the "billboard" my

They don't have a plan to pay that back. When they die it'll be passed to you.

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>>34826720
Not true. It may wipe out or significantly hurt his inheritance, but children aren't responsible for taking on the debt of their parents, at least in the US.

Absolute worst case scenario, OP gets no inheritance and the debt gets written off. Debt collectors may still try to guilt him into paying or settling it, but legally he has literally no obligation.

Well,
Are they working? If not, yes it's bad
Also, that will collect a lot of interest - so it's likely they'll pay back well over 100k
tl;dr

You're poor

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>>34826698
Also, $70,000 in credit card debt is ridiculous, especially depending on the interest rate and the age of your parents. Taking into account how much they make a year and what the cost of living is where you are, that's potentially "to the grave" money. Did it just build up over time, or did they have a huge emergency expense that they needed to fund out of pocket?

That's the equivalent of, in a lot of cases, a house, or two average college debts combined in 2016.

How much is the house they live in, for example? Sounds like they should start listening to Dave Ramsey or something.

Op here.

My grandparents on dads side has a $750k inheritance for my dad and my grandparents on moms side has a $500k inheritance for my mom.

Their parents are all in their late 80s, I have a feeling my parents are just spending whatever and not caring expecting to pay it all off with their inheritance.

Which is fucking gay because that's money that could be going to me.

Fucking baby boomers:

Depends on several factors, how much they make, other debts, what they bought with the money

Does the average normie have a shit ton of credit card debt? Is that why they seem to have more stuff than they should?

>>34826886
wow your parents are fuckin faggots

glad i never fell for the credit jew meme. completely debt free.

>>34826929
if you use a credit card excessively you're a faggot. I have no understanding of why people use credit cards, or credit, beyond the obvious cases like taking out a mortgage or car loan (within reason).

people who are just like "lol its just debt nbd" need to be shot dead in the street

>>34826781
>at least in US

When my father died, me, my mother and my siblings all inherited his debts and now my bank account is frozen and they are taking money from my salary.

Good life I can tell you

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>>34826886
If that's the case, they'll be absolutely fine, anon.

They're being foolish, but if they have a $1.25M inheritance lined up, $70,000 in credit card debt will make a dent, but relatively speaking it's a drop in the bucket. Taxes and inheritance laws depending on the state you're in will play a much bigger factor, and another thing to keep your eye on is any debts that the grandparents may have that you don't know about.

If I had to guess, the situation is exactly what you suggested: buying whatever they please on credit while waiting for the massive inheritance to drop, as they ultimately will have the means to pay it off. Having said that, your grandparents may live longer than they're anticipating, and that $70,000 could easily snowball quite a bit to the point where it makes a much bigger chunk, or a falling out could happen between your parents and grandparents, or a grandparent could get remarried and take away $750,000 or $500,000.

Having said all of that, it's not "your" money, nor is it even your parents money. Counting on an egg before it hatches is never the wisest decision, especially if, after your parents inherit it, they might squander it further with foolhardy purchases.

Look out for yourself, rather than worrying about the money of other people. It very well may not actually be there for you in the future. Your parents would be wise to do the same, but it's probably too late for them.

Hope for the best, and whatever money you get in the future, look at it as a bonus, rather than less than what you feel it could have been.

>>34826965

You're either lying or you're getting seriously bamboozled.

If your mother and father were financially joined they would both share the debt but you do not inherit debt like that in the US (legally)

>>34826698

That much in credit card debt is terribly high.

If it were a mortgage it'd be fine but chances are they have no assets from the credit card debt.

Also, how do you even get a credit line that large???

>>34826965
Your mother IS responsible for her husband's debts, you and your siblings are not in the vast majority of cases, barring extreme or unusual circumstances.

Is it medical bills you're paying off from him? Mortgage payments? Depending on the state you're in and the circumstances, you might be held liable, but if it's anything other than those two, you almost never have to pay off any previously held debt from your parent.

If it's not one of the above, like credit card bills, I would immediately talk to a lawyer.

>>34826965
Not in the US, unless he was a scum and opened unauthorized accounts in your name or tricked you into cosigning a bunch of loans or credit cards...

It can attack your inheritance though, as others here have mentioned

>>34827135
That's what he did, he kept fake license where he was still technically married with my mom and used it to sign contracts.

>>34827415
Shit, that's rough. I don't know the details and it's not my area of expertise, but you can combat inherited debt linked to those types of actions with the proper lawyer...

Unfortunately, even hiring a lawyer to initially asses whether or not you should need to pay his debts would cost an immense amt of money... Sorry your dad sucks anon, I know that feels

>>34827415
That's pretty fucking shitty, but that's on your dad, not the system. It doesn't really apply to OP or his inheritance, most likely, and it doesn't at all apply to the vast majority of situations.

If I were you, I'd still really, really, really talk to a lawyer if you haven't done so yet. Debt collectors are the worst people in the world, and oftentimes will abuse or do immoral or even illegal things in order to get money back. It's very possible you're paying off money that you have no obligation to.

>>34827415
Then, technically, you didn't inherit the debt

how the fuck do you even get approved for a $50,000+ credit line?

home equity?