elderly and bankruptcy

This is a discussion on elderly and bankruptcy within the Consumer Bankruptcy forum, part of the BANKRUPTCY & DEBT COLLECTIONS category; My 78-yr old mother is on a fixed income and spends over 1/3 of it paying back on a charge ...

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Old Jun 25th, 2008, 08:30 AM   #1
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Default elderly and bankruptcy

My 78-yr old mother is on a fixed income and spends over 1/3 of it paying
back on a charge account with a dept store (she's had the account for many
years). She spends the rest on medication, personal needs, and
whatever may be left on an occasional meal with friends. She has no
savings, does not own a home or car, and owns no other property besides the clothes on her back, and has only the bank acct where her monthly check is deposited. She is distraught over making ends meet on a monthly basis, and wants to file bankruptcy to be relieved of her debt. I don't know if this will hurt her in any way - she belives she is too old to worry about credit at this point. Thank you for any advice.
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Old Jun 25th, 2008, 05:12 PM   #2
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I'd feel the same way if I were her, I'd do more research, but I say what harm will it do if all she's got is the clothes on her back. Let her enjoy the rest of her years debt free, stress free!
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Old Jun 27th, 2008, 07:43 PM   #3
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Default Re: elderly and bankruptcy

thank you - I will continue to research and see what other advice anybody else can provide.
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