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I am sorry to read about your difficulties.
If your only income is from Social Security benefits and you do not have any asset for the SEC to come after, then you should not stop responding to the lawsuit and let SEC obtain Default Judgment against you. If you do not have any asset for them to come after, then the Judgment would be a worthless piece of paper. However, if you have assets that may be in jeopardy, then you need to obtain an Attorney to fight the lawsuit for you. Unfortunately, legal aid cannot help you here because this lawsuit is considered complex litigation and you would need an Attorney who handles SEC issues to assist you. Regrettably, with your income, it is doubtful that you can ever afford an Attorney. Your only hope would be to try to find an Attorney who handles SEC cases to assist you on pro bono basis--for free.
You can use the following sites to find local Attorneys:
Goodluck with your case,