Endent life can be a challenge for older adults, but certain law and resources offer valuable protection.
Seniors can be troubled with controlling their money, specifically those who are trying to pay back debt. Thankfully, Section 207 of the Social Security Act protects Social Security payments from getting seized by creditors. Other forms of senior income including Veteran’s benefits and disability payments, are also protected.
The majority of senior citizens can be judged to be judgment-proof. If a creditor has an outstanding judgment against them is not able to be able to claim their property. Seniors can also write cease-and-desist letters to creditors requesting to stop any contact.
Seniors often live on a fixed income and can take advantage of debt in order to meet their monthly expenses. You can also reduce your living expenses to make it easier to pay for your living expenses.
The elderly who live independently can get the assistance from legal experts and other agencies to assist their debt problems. To get more info and find additional information on tips for seniors living independently, click the link to the video to above.