- April 27, 2024
- Posted by: legaleseblogger
- Category: Related News
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### Situation
My 93 year old mother is currently facing a tough situation. She has accumulated $35,000 in credit card debt, with most of it piling up before her husband passed away a year and a half ago. The credit card companies are now threatening to take legal action against her, potentially suing her. Her only source of income is her Social Security benefits, and her only asset is her $15,000 car.
### Potential Solutions
In this scenario, one potential solution for your mother could be consulting with a financial advisor or credit counselor to explore possible debt relief options. They may be able to negotiate with the credit card companies on her behalf, come up with a repayment plan, or even explore debt settlement options.
Another approach your mother could consider is filing for bankruptcy, which can provide her with a fresh start in managing her debt. However, this should be a last resort and she should seek legal advice to understand the implications and eligibility criteria.
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****** just grabbed a
It’s like they always say: If I’m $35k in CC debt, that’s my problem. If my 100-year-old gran is $35k in CC debt, that’s the bank’s problem.
Social security can’t be garnished for credit card debt.
She is very likely judgment proof and they’re just trying to scare her.
They’re not going to seize her car. She has no other assets. Social security cannot be garnished. She’s 93 and the debt will die with her.
I’d personally tell them to get lost.
If I’m ever $35,000 in credit card debt then I hope to be 93 years old and living off social security. She’s fine, they are trying to get a quick payout before she passes. There is quite literally nothing they can do.
As others have said, ignore it. More importantly, make sure that when she passes, you or whoever is her next of kin don’t fall for anyone telling you that you are responsible for her debt. They will often try.
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Let them try and fail.
This is bank problem only and they just try the scare game to cut some of their (inevitable) losses.
I believe she is judgement proof. If they come after her they are unlikely to get anything other than causing her a lot of anxiety. They were the stupid fools that loaned money to people in their 90s. They deserve what they got in my opinion. Hopefully she doesn’t end up having a lot of anxiety about it.
She is 93 screw the credit card company they won’t do anything and honestly at 93 how often does she drive or should she drive sell the car before they try and take it then call it a day
They aren’t gonna sue. She’s 93….I’d just ignore them.
Cant take her home in Florida. SS is judgement proof. Sounds like its not her problem.
It’s not the question OP asked, but is she still driving? Is keeping the car worth it?
My mom is 87 and her insurance has crossed $6000/year with no claims and a 10 year old econobox. Might be a way to free up some money in her budget…
Advice? Let the bank throw good money after bad if they wish. Your grandmother is what is known as “judgement proof”. Social security benefits can’t be attached for a garnishment, and she doesn’t own anything to seize. My advice to gran would be live it up, max those puppies out and spend her final months/days/years doing whatever she wants as long as the bank is still paying for it.
Tell the card company she is broke and has altzheimers. They will write it off
Tell he to just ingore it. CC is unsecured debt, there is nothing for them to go after if she doesn’t pay. Her FICO will take a hit, but who cares. Not like she is buying a new car or a house on credit anytime soon.
They could theoretically go after her estate when she passes, but in practice that never happens.
The only creditors I have ever seen go after estates were Sears (and they are long gone) and Jewelry stores, like Long’s and Jared.
The big credit card companies just charge off the debt.
They can’t garnish SSI for consumer debt. So, I would call the creditor and just tell them her only income is SSI so they can’t collect even if they do sue her.
When the debt goes to collections, send a certified letter that they are to cease all contact. This will force them into suing, which requires they do a cost benefit analysis and realize gran doesn’t have anything.
Does she own the car outright or is there a loan on it? If she has a car loan then her only assets would be the value of the car minus the loan payoff.
Florida has very low vehicle protections. Only the first $1k of vehicle equity is fully protected; $5k can be exempt if she doesn’t have a home or any other property to protect. So that still leaves ~$10k for the creditors to go after if she has $15k of equity in the car.
She would be judgement proof in the vast majority of other states where primary vehicle exemptions are far higher; but that isn’t the case for Florida.
Just don’t co-sign on anything and it’ll go away when she passes. Too bad, so sad.
They won’t sue if you just tell them she’s got no assets and she’s old AF and probably gonna die soon. Even if they sue those two things are true and they can’t do anything to change it
Word of caution, don’t fall for debt collectors claiming family owes the money after death. They don’t. Yes the collectors can get first dibs on grannie’s estate, but they can’t come after you.
This is a dream scenario..…. I hope to have over $100K in credit card debt at 93.
That’s not a bad plan at that age and if you have no assets. Living her best life she can at 93. Go Grandma!
Is the credit card in both of their names? If his only just send the death certificate. She might be an authorized user and not liable.
Advice is ignore it. She’s old AF let her enjoy the rest of her years. They can’t do shit. Maybe take the car but that’s about it. She shouldn’t be driving anyways.
You, don’t have to do a damn thing about that debt and fk the creditors!
Let’s be honest how longer is she going to live?
Let them sue. Most places the cc debt isn’t going to transfer to you and if someone from a credit company says it will look at the laws your area
Question: Does the debt get carried over to her estate once she passes?
In Florida even if they win, they will get nothing. Home can’t be taken & neither can car.
She sounds “judgment proof” meaning that they cannot seize anything that is protected by law, I think.