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    rlr9824's Avatar
    rlr9824 Posts: 1, Reputation: 1
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    #1

    Feb 12, 2008, 02:24 PM
    Elder bankruptcy
    Yes I'm asking if my mom whom is 80yrs old and is divorced for 33yrs+ is living on a fixed income of $800.00 per month and still living in her own home which is her only assett. She has appx. $20,000.00 in credit card bebt that is immpossible to repay. Can she file bankruptcy?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Feb 12, 2008, 02:40 PM
    Quote Originally Posted by rlr9824
    yes i'm asking if my mom whom is 80yrs old and is divorced for 33yrs+ is living on a fixed income of $800.00 per month and still living in her own home which is her only assett. she has appx. $20,000.00 in credit card bebt that is immpossible to repay. can she file bankrupcy?

    I believe whether she can retain the house depends on the State - I would check with an Attorney. Bankruptcy is a big decision and you want to make sure you are legally sound.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Feb 12, 2008, 04:19 PM
    Each state has its own rules on allowed exemptions. So the value of the home may be the issue. If the home is over the allowed amount, she may not be allowed to keep it.

    You really need to talk to an attorney.
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