Senior Citizens, Disabled Persons, And Credit Card Debt
A number of Americans are now facing huge credit card debts, a fraction of who are disabled people and senior citizens. With such a predicament, are the senior citizens and people with disabilities protected from credit card companies who are in pursuit of their money? Do these people have support coming from the government such as debt relief programs and other financial assistance?
Technically, the answer is yes. There are numerous programs for people in their advanced years or who are suffering from certain disabilities that offer financial grants. However, most of these financial help from the government are not reserved for the payment of credit debt. But with extra funds coming from the government, senior citizens and the disabled are now capable of settling their debts through a debt settlement firm.
However, some credit card issuers prefer to hound their debtors instead of negotiating terms with them. Being a senior citizen or a disabled person is no exception to some. But still, the government has some laws in place to shield the elderly and people with disabilities from such harassment.
Even if a card issuer wins a case in court against such people, they are mandated to execute an order to collect the money from their debtors. The most common approach to do this is by wage garnishing. This happens when the card issuers get a certain percentage off the debtor's wage and will go on as scheduled until the amount is fully paid.
That said, most funding a senior citizen or a disabled person gets come from checks and other financial aid such as social security, tax rebates, and other form of monetary help from the government. Even if a credit card issuer won a case in court, these funds are untouchable by other party, thus shielding these people's money from other people's grasps.
Though there is some degree of protection playing out for senior citizens and the disabled, it is still wise and prudent that one should settle their debts and live a life with no creditors running after them. And with debt settlement companies sprouting up, looking for debt solutions are much easier than before.
Technically, the answer is yes. There are numerous programs for people in their advanced years or who are suffering from certain disabilities that offer financial grants. However, most of these financial help from the government are not reserved for the payment of credit debt. But with extra funds coming from the government, senior citizens and the disabled are now capable of settling their debts through a debt settlement firm.
However, some credit card issuers prefer to hound their debtors instead of negotiating terms with them. Being a senior citizen or a disabled person is no exception to some. But still, the government has some laws in place to shield the elderly and people with disabilities from such harassment.
Even if a card issuer wins a case in court against such people, they are mandated to execute an order to collect the money from their debtors. The most common approach to do this is by wage garnishing. This happens when the card issuers get a certain percentage off the debtor's wage and will go on as scheduled until the amount is fully paid.
That said, most funding a senior citizen or a disabled person gets come from checks and other financial aid such as social security, tax rebates, and other form of monetary help from the government. Even if a credit card issuer won a case in court, these funds are untouchable by other party, thus shielding these people's money from other people's grasps.
Though there is some degree of protection playing out for senior citizens and the disabled, it is still wise and prudent that one should settle their debts and live a life with no creditors running after them. And with debt settlement companies sprouting up, looking for debt solutions are much easier than before.
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