How to void contract due to mental disability?
I have a family member who was diagnosed with bipolar depression, psychosis, and Schizophrenia back in the early 1990′s. I recently took over her finances and discovered two car loans(both repossessed), two mortgages (house was left to her in a divorce but she never paid the mortgage), education loans for over $10000 (never completed any programs), and credit card debt. I assume the contracts for these loans should be voidable based on her mental illness (Except the house, which I believe the ex-husband should be responsible for). What is the process for getting this debt erased? I figure if we call the companies and explain they will just laugh and say she still has to pay. Would we have to go to court? Are there any agencies or government programs in the Chicago area that can help?
If she was on meds and her schizophrenia was controlled, you’re probably out of luck. Are you planning to give back all the items she bought on credit? You can probably find a govt or consumer agency in the Chicago area that can help you. If not, contact Consumer Credit Counseling (non-profit). They may be able to at least point you in the right direction.
If you go to court and have her declared Incompetent, it’s likely that only FUTURE debts can be erased.
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