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Millions of Americans are Going to Die Poor

[The opinions expressed in this guest post are those of the author. They do not purport to reflect the opinions or views of anyone else. If you would like to submit a guest post as well, click here.] About six months ago, I received a letter from the Social Security Administration informing me that it …

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Deceptive Answers Given to Seniors With Debt

by Eric Olsen, attorney and Executive Director HELPS Nonprofit Law Firm I recently read a question on a website that helped persons with credit card debt. The answer given is typical of the deceptive, incomplete, and false answers many websites and their experts provide to seniors with financial problems. Here is the question posed from …

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When Bankruptcy for Seniors Might be a Bad Idea

This guest post by Eric Olsen is a great example that not all debt experts need to agree all the time. Eric presents a very valid point of view and mine is slightly different. Eric describes a situation where seniors may consider it unnecessary to file bankruptcy. In my experience, bankruptcy in similar situations can …

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Seniors and Income Based Repayment of Student Loans

By Eric Olsen Executive Director HELPS Nonprofit law firm, www.helpsishere.org You may have received a notice about a defaulted student loan and do not know what to do. There are many articles on the internet with incomplete information that scare seniors into thinking that they are going to lose their social security. This article will …

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Older Americans are Burdened by their Children’s Student Loans

The Consumer Financial Protection Bureau issued a useful report a few days ago on student-loan indebtedness and older Americans. Here are some of the CFPB’s key findings: “The number of consumers age 60 and older with outstanding student loan debt quadrupled from 2005 to 2015, increasing from about 700,000 to 2.8 million.” During this ten-year …

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My Elderly Mother is Struggling in Credit Counseling. What About Bankruptcy? – Tracey

“Dear Steve, My mother is 77 years of age. Her memory is no longer the best for her finances and she gets confused as to who gets paid what and how much. the debts, even though she doesn’t even use the cards but one walmart for groceries the interest rates and payments have gone over …

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