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Lost Job. Unemployment Expired. Living on Social Security. Can’t Pay Debts. – Gwen

“Dear Steve,

Lost job. Depleted Unemployment payments. Living on Social Security only. Cannot pay all debts.

I lost my job of 14yrs in 2010. I have depleted all my unemployment and only have Social Security as an income. I am 71 yrs old and cannot find another job. I have $43.000.00 in credit card bills and a personal loan. Am considering filing for Chapter 7 bankruptcy but DO NOT HAVE ENOUGH MONEY LEFT EACH MONTH after my house pymt and utilities to pay for it. My husband had a heart attack and had to have surgery. He had PAD of the legs and could not work any longer, therefore had to retire on disability. When he retired, he lost his health insurance. Before we could get his disablility income, and Cobra Ins., he had a heart attack and had a 4/way by-pass. We had to borrow on the house to make ends meet. Now I am left with a house payment, which I can manage and the utilities, but nothing else. I lost him 1 1/2 yrs later.

I have been managing okay until I got laid off. Have tried so hard to find a job. The credit card companies are calling constantly every day all day long. I sent them letter stating I lost my job and could not make payments. I have never in my life not paid my bills, and this is driving me nuts. Cannot sleep or eat. Is there anyone who will help with the expense of filing bankruptcy? Very depressed.


Dear Gwen,

I’m so sorry to hear of his passing.

It certainly sounds like a chapter 7 bankruptcy is a reasonable approach considering your situation.


Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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About the author

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.

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