Legal Question in Bankruptcy in Mississippi

Repercussions / 83 yr. old filing bankruptcy

I am seeking advise from you for my 83 years old neighbor. She is 50K in consumer debt with credit cards issued to her for the past 4 years by lending her son money who is destitute. Now, she is fearful of creditors threatening to take her to court. (They are unsecured debts) she sent a letter explaining her financial status and pays $30 per month to 7 cards and is on a limited fixed income) What are the repercussions of bankruptcy at her age? Isn't her creit already marred as a "slow-pay"? What is next step?


Asked on 11/10/98, 1:32 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Repercussions / 83 yr. old filing bankruptcy

It sounds like bankruptcy may be an option, but she needs to carefully examine her assets and the exemptions available in her state to be sure that she won't lose her house or retirement savings. She should consult with an experienced bankruptcy lawyer to determine what is the best course to take.

Daniel Press

Chung & Press, P.C.

6723 Whittier Ave., Suite 302


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Answered on 1/05/99, 10:33 pm


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