The Moneyist: My mother-in-law maxed out her credit cards and took out a reverse mortgage — how can we control her spending?

The Moneyist: My mother-in-law maxed out her credit cards and took out a reverse mortgage — how can we control her spending?

Dear Moneyist,
My mother-in-law can’t control her spending. She has maxed out all of her credit cards and has little in savings. She lives on Social Security and her deceased husband’s pension. She is only paying the minimum on her cards so they will never get paid off. She also has a couple of cards with balances that have been closed, but not paid off.
Her house has a reverse mortgage with…

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