Bankruptcy Law Questions? Ask a Bankruptcy Lawyer.
Hi and welcome to JA. I am Ray and will be the expert helping you today.
The credit card companies cannot go after her annuity unless the terms allow for it.Most annuities cannot pay off sooner.You may want to check with annuity company to verify it cannot be terminated.
She may want to explore Chapter 7 here to se if it works for her and what terms of annuity are in regards ***** ***** termination.Again most annuities cannot be touched0 by the person even for debts.So if that is the case with her annuity then Chapter 7 to discharge the debt may make sense here.
Talking to the annuity company and getting terms of the annuity is a first step.
Lawyer referral for her to see about Chapter 7.
These would be the nest steps to see what is best for her.Thanks again for the chance to help.
Sure if she stops paying here they are likely to sue and get judgment.They cannot touch her social security and she may be judgment proof if she doesn't have anything here.
At this point in her life this might be uncollectible from the creditor.They might just end up writing it off, they might not sue here if they see they aren't going to collect.
Yes I would write them and tell them she is destitute and moving into assisted living and that the debt is uncollectable.Ask them to close out their account and write if off that way.Hopefully they cease the harassment here.You might get them to agree there is nothing to collect against here and move on.