A Canadian family trying to stabilize a 73-year-old relative’s finances ran into a tough question: What happens when retirement benefits and income support start coming in, but debt payments still swallow hundreds of dollars each month?
Here’s what to know
The original poster described their situation in a Reddit thread on r/PersonalFinanceCanada. The poster said their father-in-law had been relying on Canada Pension Plan and Old Age Security benefits, but “it wasn’t cutting it.”
Trying to get the Guaranteed Income Supplement in place led to the discovery that he was years behind on filing taxes. According to the OP, this led to months of paperwork related to a former business.
Finally, they got GIS approved,…