Legal Question in Bankruptcy in California

Grandma's Bankruptcy?
I am a 79 year old Grandmother who has accumulated 50K+ of CC debt over the past 20 years because of medical expenses and loss of job. I receive about $1,000.00 per month in SSI and can no longer afford the CC payments. I don't have any savings or retirement, own a home, car, or anything of substantial value. A Credit Counselor/Consolidator that was referred by one of her Credit Card Company's has advised me to file bankruptcy. Should I file bankruptcy?

Asked on 3/28/07, 11:46 pm

3 Answers from Attorneys

Mark Markus Law Office of Mark J. Markus

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Re: Grandma's Bankruptcy?

You are probably judgment-proof, meaning that if you just stop paying your credit cards and do nothing, there's probably nothing the creditors can take from you. The benefit bankruptcy has is that it will stop the creditors from TRYING to "get blood from a stone" and basically bothering you.

Answered on 3/28/07, 11:54 pm

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Chris Johnson Christopher B. Johnson, Attorney at Law

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Re: Grandma's Bankruptcy?

I'd agree with Mr. Markus--stopping the creditors' collection attempts would be the main benefit to your filing a bankruptcy. If your assets were to increase later, you'd also be protected.

Answered on 3/29/07, 12:12 am

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