According to the Kaiser Family Foundation, nearly half of seniors over 65 have incomes within 20 percent of the poverty line and are classified as economically vulnerable. The Consumer Financial Protection Bureau reported that debt collection was the top complaint of older Americans.
In general, seniors want to pay their debts and end up paying a portion of their fixed incomes to pay their outstanding debts. However, many don’t realize that Social Security, pensions, retirement, VA benefits and disability income are protected from federal law.
The Fair Debt Collection Practices Act provides that when a debtor sends a “cease and desist letter” a collections agency must stop all communications by mail or phone. HELPS (Help Eliminate Legal Problems for Seniors and Disabled) is a non-profit law firm assisting lower income seniors and a sample letter can be found at their website: www.helpishere.org
Whether the issue relates to mortgage arrears, past due taxes or pay day loans, lower income seniors can obtain legal assistance from HELPS or Nevada Senior Law Project at (702) 229-6596.
Drizin Law is providing this information for educational purposes only. It should not be construed as legal advice or a legal opinion as to any specific facts or circumstances. This information is based on general principles of Nevada law at the time it was created and you should be aware laws frequently change. Moreover, the laws affecting you may differ depending on the circumstances. You should consult with a qualified attorney in your own state or jurisdiction concerning your particular situation. Review of this information does not create an attorney-client relationship.