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Is a power of attorney responsible for the credit card debt that the elder they have POA over, has run up?*

My mother is the power of attorney (POA) for her mother (my grandmother). Grandmother is 86, and mother is 62. Grandmother owes credit card debt to the tune of many thousands, but on her fixed income can't pay it back too well. Is my mother liable for that debt? In other words, can the credit card company come after my mother for payment just because she's the power of attorney for my grandmother? Thank you in advance for your help.

Answers:

1) I too am a POA and do not believe the POA is responsible for the debt incurred by the person we are helping. However it would be in the best interest of your grandmother if your mother stepped in and took control of the credit cards. Your mother does have a fiduciary responsibility to protect your grandmothers financial well being.

2) most states, yes--seek counsel is best--good luck

3) I do not think so I am POA of both my mom & sister,you just handle yhings when they are unable to do it.

4) Hi, if you can't get any straight answers here are some links which should have what you are looking for: http://credit-cards.ebookorama.com and here http://finance.ebookorama.com also plenty more to read here http://credit.ebookorama.com http://credit-repair.ebookorama.com good luck!

5) There are a lot of variables that you didn't mention but I see that you haven't gotten any good answers yet so I'll give it a shot, to help you get started with your research which should be done at the library rather than at Yahoo Answers. If the Grandmother has been deemed incompetent and that is why the Mother has a POA then the Mother is responsible for the actions of the Grandmother after the point that she was deemed incompetent. Even if the Grandmother is not deemed incompetent; If the mother signed the card application (even if she put "POA" after her name) then she is also responsible for the debt. If the Grandmothers card was used by the mother (even if she put "POA" after her name) then she is also responsible for the debt. If the Mother knew that the Grandmother was buying household items (that the Mother also used) with the credit card then the Mother could also be held responsible or the debt. Point is that if the Mother is up to something shadey then its fraud and she will likely be caught and held responsible for the debt and in even if she isn't she still might find herself in court so the first thing she should do is take those cards away now and then contact an attorney and do some research herself, to see if she should write and cancel them with explanation or if she should just leave them alone until your Grandmother passes away. She should also take into consideration that if your Grandmother is a property owner then the debtor is likely to put lien on title so maybe she should get the property transferred now and make payments on those cards for, I think it's 3 years that a debtor can go after previously owned property and it would be pretty obvious if it is property transferred to a family member.

6) No,the POA is not responsible for the dept.But if your grandmother passes,the credit company can put an attachment on the estate.That way they will get payed first before anyone gets anything.

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