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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: family/survivor legal responsibilities Date:  1/23/2006  2:03 PM
Author:  vkg Number:  219099 of 312203

Debt is not inherited. It is not your responsibility.

He could declare bankruptcy and make all or most of it go away. Given his age, health, and income he would never have credit again which under the circumstances is an acceptable outcome.

If he has no other assets, his other option is to just stop paying them. Collectors will harrass him for awhile which might be reason enough to declare bankruptcy. They can't attach Medicare/Medicaid benefits and have limited ability to attach Social Security payments.

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