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Court Judgments Against the Elderly: When to Worry

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Just because consumers are older (and sometimes even headed into quite elderly advanced age) does not mean they may not become mired in serious credit card debt – which is often the precursor to filing for bankruptcy. It is no secret that money mismanagement leads to serious financial stress, but for most consumers in the US, bankruptcy is brought on by medical debt. This is even more common for senior citizens, who tend to have more health issues as time goes on. Other problems may occur also, or simultaneously, such as a bad fall that requires long-term healing and rehabilitation.

Unfortunately, when co-pays, prescriptions, procedures, and all the essential bills begin to pile up with no extra income to help, it may be necessary to use credit cards as an alternative—and very temporary form of income. When there is no other way to cover the bills, often extreme measures must be taken, even if it means going into considerable debt; however, if you are an aging consumer, or the older adult child, you may be extremely concerned about how to handle impending delinquencies.

Assuming you are the adult child of an aging parent under financial strain, you may be worried about the eventual possibility of having to take responsibility for a range of bills being incurred, but at present the major concern is how to handle any possible collections lawsuits. This is critical because of the threat to any possible assets or cash they may have. Consult a debt protection or collections lawsuit attorney immediately if they have been served with a summons and complaint, or even if you are worried about the imminent threat of one. While legal action against the elderly who may be in severe debt is one concern, it can get worse if action is not taken. Without a suitable reply to the lawsuit (and you will need legal help to answer), the credit-card corporation or debt collections agency may quickly be granted a default judgment.

For the elderly, in some cases there may not be much reason to worry about judgment if they do not have a job, assets, or anything to take. You will need to speak with your attorney, however, about what income they do have and how it would be protected in the face of potential wage garnishment, seizure of assets, or freezing of financial accounts until the debt was settled. In some cases, seniors may also be dealing with legal action regarding default on private student loans, a growing trend—along with borrowers who are faced with aggressive collections activity and ensuing lawsuits from servicers. A default judgment could make life very complicated if they do have something the creditor could take to satisfy a sizeable debt.

If you are concerned about impending creditor lawsuits or fighting a default judgment, consult with an experienced law firm like Fitzgerald & Campbell, APLC as soon as possible. A solution can be found to help you through any of these issues, even if a judgment has already been granted.

Speak with an attorney from Fitzgerald & Campbell, APLC as soon as possible to examine your options. Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include student loan issues, bankruptcy, and other debt management processes. We are here to help! Click here to schedule a free 30-minute consultation, call us at (844) 431-3851, or email us at info@debtorprotectors.com.

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