Latest Posts
Home > Ask The Get Out of Debt Experts > I’m a Disabled Veteran And Being Chased by My Creditors. – Disabled

I’m a Disabled Veteran And Being Chased by My Creditors. – Disabled

“Dear Steve,

I’m a disabled vet living off my va disability comp and social sec disability.

I am in a serious bind i became disabled in 2005 and i lost everyting i have been faced with collection agencies calling me to pay off the debt for my car that i had to turn in they did take 6 months to pick it up but i am aware that the statutes of limitation is going to run out so they have been extremly agresive and i have recieved threats of being sued what can i do. we are a family of three and we live paycheck to paycheck is bankcruptcy a good option or just hold out for the statutes of limitation run out and hope i dont get sued. i really need to buy a house i have found a few houses that would be less than my rent which is $800 monthly and i have found houses for $45,000 – $80,000 but since my disability i my credit took a plung please help

Disabled”

Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

The Answer

 

Dear Disabled,

My advice is not to sit and wait. Just because the statute of limitations runs out does not mean they can’t attempt to collect the debt for ever.

I would suggest you consider closing the door completely on these old debts with bankruptcy and then you can focus on moving forward with your life.

The good news is that if you are eligible for a VA mortgage you will be able to get a VA mortgage loan two years after your bankruptcy has been discharged.

The best step to take next is to meet with a local bankruptcy attorney you like and discuss the situation. The appoint is generally free and you’ll walk away knowing if bankruptcy sounds like the right approach for you to take.

If you do decide to go the bankruptcy route, then follow my easy plan to rebuild your credit.

Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.

Big Hug!

Im a Disabled Veteran And Being Chased by My Creditors.   Disabled
Get Out of Debt Guy – Twitter, G+, Facebook

P.S. Be sure to read ‘The Secret of Surviving Through Difficult Economic Times. What I Learned On My Journey‘.

If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

I'm a Disabled Veteran And Being Chased by My Creditors. - Disabled by

Share This and Spread the Word

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • disabled

    thanks for the response i will look into bankruptcy and let you know what i decide

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.