Many adult children help their elderly parents with finances. Adult children have the best intentions when it comes to helping with their parent’s money. Kamagra oral jellies or Sildenafil citrate However many times those who help their parents with money unwittingly make mistakes that could become problems. buy Kamagra online This article will help identify some common mistakes and explain how to ensure you do not become liable for your parent’s bills.
If your parent needs help paying routine bills such as rent or mortgage payments, utility, telephone charges, and any other payments you may decide that you want to take on this responsibility. If you don’t live close enough to your parent to pick up the monthly statements yourself, you may want to contact the various payees to make arrangements to have the monthly statements sent directly to you. This makes sense because it will help you get the payments out in a timely manner.
A big trap that you could inadvertently step into is to have any of the various companies change the liable party from your parent to you. Example: Let’s say you want to pay your parent’s phone each month from now on. You want to use your parent’s money to pay the phone company. Essentially all you want to do is provide your parents and the phone company with a bill paying service. That is, you are not signing up to be liable for your parent’s phone. You simply want the phone company to send you your parent’s phone statement each month so you can use your parent’s money to pay it. In no way do you intend to be liable for your parent’s phone charges nor is it your intention to be a “guarantor” on your parent’s phone. All you want to do is help your parent by paying your parent’s phone bill from your parent’s money because your parent needs a little help with money.
In your conversation with the phone company you tell them you will help your parent make sure the phone gets paid so that now you want them to send the monthly statement to your address. In a month or two you begin to get your parent’s phone bill at your address and you pay it each month. However, what you didn’t realize is that when you gave the phone company your name and address on your parent’s account, they put you into their computer system as the person who is responsible for the account. In other words, if the statement doesn’t get paid, then they will turn YOU over to collections and adversely impact YOUR credit rating.
You may think, what’s the big deal? If I pay each month there is no problem. But what if your parent falls victim to a phone scam, and when you get the monthly invoice you see that your parent owes thousands of dollars? Further let’s say your parent is on a fixed income and doesn’t have the money to pay these unexpected charges. You may think, “It’s not my problem, it’s my parent’s account.” Then you call the phone company and to your surprise the they advise you that you are in their computers as owing the money, not your parent.
How can this be? You simply told the phone company to send you your parent’s monthly statement. You didn’t sign up to be responsible for the account. Now you must convince the phone company that they made a mistake by putting you into their computer as being the liable party on your parent’s account. You need to explain that they were just supposed to change the billing address.
This is a common mistake that the phone company makes, and it could happen with any company you contact when you have your parent’s monthly statement sent to you. The bottom line is when you first contact the company, explain clearly that you just want the billing address changed and that you are not liable for your parent’s accounts. After you receive the first monthly statement at your address call the company and make sure you are not in their computer as being financially liable. Verify that you are on file only as the person paying the bill on behalf of your parent, and that you are not personally liable.
Copyright 2011 Jeffrey B. Kent. You may reuse this article only if you use it unedited, in its entirety, you give full credit to the author and you provide a link to the author’s website.