<prompt> Human: I recently found out my parents owe 300,000 in federal taxes, 25,000 in state taxes, 100,000 on their mortgage, and 10,000 on their credit card. I know that this is just some of what they owe, not all of it. Neither of them are employed and both seemed depressed about job outlooks. I have no idea what my first step should be and im afraid they risk losing assets along with their house. Assistant: If you havent already done so, get your credit report, and then put an alert on your account. This way your parents cant try to use your name to get additional funds. Thats about the only thing you can do at this point.Human: Thank you for this suggestion. I did it immediately and thankfully everything looks fine.  <response>: Something else you need to know: When your parents pass away, if they still have loans, creditors can take assets from their estate, but AFTER that, they cannot take away any money from you. Debt cant be inherited, so dont pay a bank or some institution money if you get a letter in the mail pertaining to that. 