Millions of struggling seniors are in debt with little chance to pay back all that they owe. Eric Olsen, Founder and Executive Director of the HELPS Nonprofit Law Firm, wants to give seniors in debt peace of mind. In this video, the attorney explains five things that struggling seniors with debt should know but don’t.
Time Stamps
0:00 Introduction to Attorney Eric Olsen and his experience with struggling seniors in debt
1:17 The most important thing seniors in debt need to know: struggling seniors’ incomes are protected
3:50 Senior’s bank accounts are protected up to twice their Social Security monthly benefits or other federal benefit
5:02 What struggling seniors can do to stop debt collector harassment
6:31 Where seniors can get a copy of a cease and desist letter
7:14 Many seniors are judgement-proof - creditors can’t take anything from them
8:26 It’s not the practice of consumer credit companies to try to take property away from struggling seniors
9:09 Struggling seniors do not have to hire a lawyer to represent them in court if sued
10:18 Seniors in debt need to be aware of all the misinformation out there
11:30 Struggling seniors in debt shouldn’t feel guilty about not paying debt
12:50 Struggling seniors in debt need to know that they’re not alone
13:27 How to reach the HELPS Nonprofit Law Firm for free or low-cost legal help
This advice from Attorney Eric Olsen could help seniors struggling with medical debt, credit card debt, or other issues. His goal is to keep debt collectors (who won't tell you your rights) at bay, or even make seniors' debts virtually disappear. The video also contains contact information for Eric and the HELPS Nonprofit Law Firm.
Jeff Hoyt is SeniorLiving.org’s Editor-in-Chief.
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To contact the HELPS Nonprofit Law Firm, call 1-855-435-7787 or visit helpsishere.org.
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