Below is a link to a post about the struggles seniors have with debt collection. I am not surprised by this article’s news. Getting your parent’s financial and legal affairs in order will protect them from the predatory elements in the business world.
With his memory loss, Dad has trouble remembering to pay his bills, and his health insurance went unpaid at one point before I suggested to him that I help him set up autopay. In fact, each month Dad and I sit down together and pay his bills and balance his checkbook. Some of his bills are on autopay which simplifies the process for Dad.
The autopay option also helps me sleep better at night. Although I have power of attorney and can pay Dad’s bills for him if needed, I’m not looking forward to the day that occurs because Dad will probably be in the hospital and paying bills will likely be the last thing on my mind.