My brother just suffered a serious slip and fall, required surgery and will be out of work for some time. He asked us to lend him money for rent and then we learned that he is severely in debt, behind in all his payments, has collection agencies chasing him with threats to garnish his wages, and a problem with the IRS. He has also been taking the payday advance loans at over 300% interest. He has let this stuff just sit and has done nothing. His debt is easily over 25k and he has no way of paying this back in the near future. The situation is very serious. He has no savings, no 401k, nothing. First I want to get power of attorney to be able to review more closely and take charge of his situation, but am not sure if that will leave me with any liability. Secondly, don't where to find a legitimate attorney to discuss the bankruptcy option (which I see as the only solution at this point), or should I even try the consolidation services and again how to find a legitimate one. Also since he rents, would bankruptcy have any effect on his leasing agreement providing he still is current and on time. I have always had excellent credit and had no idea any of this was happening so am in the dark. Just want to get the ball moving quickly so he can concentrate on getting better and get back to work. Any suggestions?
