Old bank secured line of credit loan – already went to court – judgment against me for debt – judge said being on SS is not reason enough to dismiss – was actively working until I had a triple-bypass 5 years ago – haven’t been able to work since then & due to high medical bills (I have no insurance – only medicare) I incurred following the surgery & the year+ it took me to recover, payments on the loan stopped & I have not been able to afford payments ever since without severely cutting back on my food/bill costs I’m already juggling.
I’m 76 – had triple bypass heart surgery 5 years ago as a result of going to the ER for not feeling well. I was actively working & paying bills until that time – took about 1 full year to recover from the surgery. That caused me to stop working (self-employed). I am now on medicare ($1100/month) & my pension ($55/month). I had to & still have to make monthly payments on the bills from the surgery & current bills. I had an existing line of credit loan I had been paying off until the surgery. I do not have insurance other than medicare. The bank took me to court & the judge stated being on medicare & SS & managing the medical bills was not reason enough to dismiss & ruled that I had to pay off the $10K balance. I cannot figure out how to work this into my already stretched budget. The only asset I have is my house – paid off several years before the surgery (worth about $125K at best). The bank is soon going to turn me over to collections because they want at least $200/month which I cannot afford unless I eat every other day or live without power or water which I don’t want to do. I am not eligible for legal aid – they are only taking divorce cases with children right now. I am thinking bankruptcy may be the best answer however I can’t afford a lawyer to file. Do I have any other way to obsolve this debt? I’d rather pay off the debt but cannot find any possible way to do that & continue to survive financially. Seems all I will be doing with payments that I can afford is paying off interest & the debt will continually be in existance. What do you suggest?
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