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Should seniors use bankruptcy to deal with debt?

We often see retired people, living on a fixed income, and after rent and utilities, there’s not enough left to pay Capital One.

Seniors are often judgment proof. That means that they lack assets that creditors may seize to satisfy outstanding debts. Social security cannot be garnished. Retirement income cannot be garnished. Pension income cannot be garnished.

But do you think that stops creditors? They are relentless, and they will do whatever it takes to get their money. They will call you hoping to frighten you into agreeing to a payment plan. They will sue you hoping you’ll fail to show up to court. They will freeze your bank account, even though they know they cannot garnish social security.

Many seniors choose to file for bankruptcy in spite of the fact that creditors cannot force any money out of them. They don’t want the headache of dealing with the phone calls, or process servers showing up at the door, or court dates to worry about. So they send the creditors to us and let us be their shield. We can do the same for you.

Bankruptcy can stop the harassment, so you can enjoy your golden years.

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