The “Elderly” Client
If you are an older person, then you may be facing the worst of financial crises. Elderly debtors have higher medical care and prescription drugs and generally are on fixed income. It takes more money to pay off debts such as credit cards, personal loans and payday loans. Many want to pay their debt in full but can’t. While it is laudable to want to pay, most of these desires to pay involve lots of wishful thinking. An individual on social security usually has no business trying to pay credit card debt or personal loans. For seniors living on a meager cash flow, usually only Social Security, these sacrifices are unhealthy and unnecessary.
Many elderly fear getting sued. The reality is that most seniors are usually judgment proof in their existing debts. And bankruptcy stops suits. Furthermore, the Code now provides even more exemptions aimed at protecting cash-poor seniors. If you or someone you know fits this description, bankruptcy may be an appropriate action. Please call Dana A. Ehrlich today, (325) 655-5351.
Dana A. Ehrlich is a bankruptcy specialist who lives and works in San Angelo, Texas. He has lived in the ConchoValley and San Angelo, Tom Green County for many years. His practice is primarily consumer bankruptcy law and he is a board certified bankruptcy specialist for Chapter 7 and Chapter 13. He may be reached at 325-655-5351 or at email@example.com.