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I’m 72, Unemployed and Living on Social Security But Have Credit Card Debt. – Judy

Written by Consumer

I am 72 lost my job in 2010 my Unemployment benefits run out May 30 I owe about about 8K in credit card debt and am paying an old line of credit bill that my husband will not help with the balance is 11,700.00. My total income is 1300 per month from Soc. Sec. I pay my car payment, Verizon and cable, storage unit with that and the little I have left over goes for personal items, gas, and occasional food item I may want.

My husband and I basically live separatly but under the same roof I have been unable to find other work probably due to my age. I am an LPN by trade, I have no assets, or pension. I want to file bankruptcy for myself. Since it does not look like I will get more income it would be impossible to try to get a loan to consolidate bills. I am current right now with all payments but after May, I will be unable to pay the creditors.


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  • Judy, I am also in the same situation. I am 63 and lost my job in 2010. I have been job searching ever since only to be told I am over qualified. In other words “too old”. I have used my credit card to take the place of my lost wages, paying for food, clothing and gas. Now my 401K is exhausted and my unemployment ran out last May. I can’t get my creditor to work with me. They say I have used my credit card to excess. I was never late with a payment to them and always paid more than the minimum. I advised them that I just needed a 6-9 month extension and I would make a reasonable payment during that time but still no help. My husband had cancer surgery in February and March and we are having to pay medical bills, however they should be cleared in 6-9 months plus he will receive a little pension check starting in April 2013 so things should get a little better then. But still they would not budge. I don’t want to file bankruptcy but I feel they are forcing me that direction. Please let me know what your outcome is, I could use the advise.

    Thanks and Good Luck!

  • Lets not forget if you default and the attorney aka – debt collector takes you to court and they get a judgement they can call you to Interrogatories where the attorney (aka) debt collector will ask you a ton of questions trying to find if you have any assets they can steal.  The debt collector can file a lien against your checking account and take whatever’s there. If you take the advice that Steve offered in regard to being “judgement proof” as he said they can still sue you. IF IT WERE ME, I would find a family member or someone you trust to open a Checking Account in their name and add you as a user, that way the account is NOT in YOUR name but you can still use it, you can also get a debit card with your name on it. There is BIG difference between being the one who opens the account veres being added as a user, your SS# will not be attached to the account. A debt collector cannot steal what they cannot attach or find. 

    David Robert

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