2007-05-23 10:35:04 · 9 answers · asked by Bob K 1 in Business & Finance ➔ Personal Finance
I would bet that she has a pretty good case to do it. She probably does not have major income that would allow her to pay it off. Being harrassed by creditors at her age is pretty bad. She may want to declare bankruptcy to get rid of the stress of the debt and to protect what she owns.
2007-05-23 10:39:04 · answer #1 · answered by A.Mercer 7 · 0⤊ 0⤋
bankruptcy laws are not the same as they were a few years back. now even if you declare bankruptcy really all you are doing is agreeing to a payment plan. So many people especially some business racked up debt and ran off congress changed the laws. If she has property she should go and talk to an attorney about how to protect her home.
2007-05-23 17:43:39 · answer #2 · answered by Realtor Angela 2 · 0⤊ 0⤋
If she owns a home, she can file for a reverse mortgage. Otherwise, don't worry about it. Unfortunately, she may not be around long enough for the debt to affect her. If she has life insurance when she passes the collectors will try to collect then the debt can be negotiated down significantly.
2007-05-23 17:38:55 · answer #3 · answered by a p 2 · 1⤊ 0⤋
That's a tough one. I really think you should ask for donations, family assistance, buy A LOT LESS. Use less energy. Get a SMALL well paying job. Enter MANY game shows and prizes. Buy a FEW lottery tickets. All these will earn it back in a few years. Don't smoke or buy other useless stuff, eather. It will make it harder. I know you can do it! Be strong. With a little effort, you are sure to do it.
2007-05-23 17:42:31 · answer #4 · answered by Bryan 2 · 0⤊ 2⤋
I just had to stop buy to LoL at the "buy a few lottery tickets."
Well, it's good to know that people still sleep through math class.
2007-05-23 19:05:50 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Definitely, been there done that, sometimes it's the only solution. Good Luck to you
2007-05-23 17:39:31 · answer #6 · answered by jdnsmama13 4 · 0⤊ 0⤋
yes because at that age why worry about your credit.
2007-05-23 17:37:19 · answer #7 · answered by Amanda F 4 · 1⤊ 0⤋
I would if I was that old
2007-05-23 18:37:28 · answer #8 · answered by shorty21 5 · 0⤊ 0⤋
reverse mortgage
2007-05-23 17:37:36 · answer #9 · answered by wildbeagle 3 · 0⤊ 1⤋