Certainly, his credit score will be impacted substantially, but that may not be that important in the plan for keeping him financially stable. If he can avoid the filing, certainly he should, but not at the risk of waiting until matters have become more desperate.

Many bankruptcy filers recognize that they only delayed the inevitable and perhaps hindered the best plan in doing so. Often savings and retirement funds (such as 401(k) funds) are tapped into to pay bills, thereby lowering the funds available to the debtor from pay checks or for retirement, only to file bankruptcy later.

With income limited to social security, there may not be much that creditors can do to collect unless your father has assets (such as equity in a home, vehicle or other possessions, money in the bank, investments, ...). These questions would all come into play when an attorney advises about bankruptcy because there is a limit on assets that can be exempted in a bankruptcy case. So, another consequence that would be discussed is whether any assets are at risk.

If there is not anything from which creditors can collect, that would provide leverage for settling accounts at a fraction of what is owed. You can make some calls and see where you get. Be careful though, as it does not make sense to send one creditor a chunk of money if bankruptcy will eventually result anyway. That money would be better put toward the bankruptcy fees or savings for the future.

Sometimes, debtors file bankruptcy even when creditors would not have a source for collection, because the headaches are too much (collection calls, court appearances, . . .).

Also, be careful that creditors do not try to collect debts for which your father is not responsible. He is not responsible for most debts that were solely in your mother's name. Creditors will seek to take advantage.

If creditors or collection agencies behave inappropriately, claims can be made against those parties. Keep notes of the dates, times and substance of conversations. Keep copies of mailings, including the envelopes.

The scope of this space does not afford an opportunity to assess the situation and advise you. I recommend you assemble for legal consultation: (1) your income information for August 2011 through the present, including wages and unemployment during that period; (2) all your bills (copies neatly assembled, back pages included); (3) last four years’ tax returns; (4) a credit report (use www.annualcreditreport.com to obtain free report if not requested in last year); and (5) other information that may apply, such as copies of lawsuits. Call at your earliest convenience to afford the most opportunity in which to be advised about your best course. You are not required to use an attorney in your area.

I do not recommend filing bankruptcy on your own. There are too many complex issues. I have seen several posts on this site for debtors who filed on their own and are seeking counsel concerning complications. Most of them will have a hard time finding an attorney to get involved to unwind the mess without the attorney charging several times what would originally have been paid.