Q: My MIL has 10k in credit card debt (one card only) and has been on SS income for years. Should she file bankruptcy?
She lives in an assisted living facility and has no assets. She can no longer afford making payments and hasn't been for months. Is bankruptcy the only option? I don't know that she can afford to file.
A: Creditors cannot get to her SSD income, and if she has no other assets she's pretty much "judgment proof." However, sometimes money from bank accounts are taken erroneously and you'll need to fight to get that money back. A lot of people file bankruptcy just to not deal with the hassle. Bankruptcy is her best solution. If she files bankruptcy, she no longer has to make those payments, so the money used to pay monthly minimum amounts can instead be used for attorneys fees. There are some legal aid services available, but they only help you fill out the petition, it won't be an attorney representing you. It's always best to have an attorney, since you never know what might be an issue.
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