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socrateaser, Attorney
Category: Bankruptcy Law
Satisfied Customers: 39034
Experience:  Attorney and Real Estate Broker -- Retired (mostly)
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I am 80yrs old and have 15,000 credit card debt. Have been

This answer was rated:

I am 80yrs old and have 15,000 credit card debt. Have been told I am

not responsible. No need to go into bankruptsy. Is this a fact?

Everyone is responsible for paying a lawfully acquired debt, regardless of its source. There are, however certain means by which a debt can be lawfully avoided, without filing for bankruptcy protection:

1. If a debt is more than four years old, under California law, it is outside of the statute of limitations, and cannot be collected, as long as the debtor pleads the statute of limitations defense in the event that debtor is sued by the creditor or a debt collector.

With a credit card debt, the four years generally begins with the date when the first payment became due and payable (the statement due date), and was subsequently not paid by the debtor/cardholder.

2. If a person age 65 or older has no assets with equity (e.g., no nonretirement bank accounts; no stocks/bonds investment securities; no valuable collectibles/artwork/etc.; a home with less than $175,000 in equity above loan value), and all of the person's income is from Social Security, Veterans Administration, or a private retirement pension -- then the person is "judgment proof." This means that even if the person is sued, there is no way to collect, because the person has no property from which the debt can be lawfully paid.

Those are the only two possibilities. Otherwise, if you want to get rid of the credit card debt, then filing for bankruptcy is the means of doing so.

Hope this helps.
socrateaser and other Bankruptcy Law Specialists are ready to help you
Customer: replied 4 years ago.


Hello again,

I don't understand the question. How do you do "what?"
Customer: replied 4 years ago.

what kind of response do I give to crediters

Depends on what the creditors are demanding, and upon which if any of the possible defenses that I have described are relevant.

If you briefly explain what's happening with the creditor, I'll try to be more precise.

Thanks in advance.

I'm not sure why you rated my service as "poor." I'm offering to provide additional help. If you provide a brief explanation of the circumstances surrounding the particular creditor to whom you wish to respond, I may be able to give you an idea of how to respond.


And, if you don't need any further assistance, then just say so, and I'll close this Q&A session.

Thanks in advance.