Our client is a 75 year old married man, living on a pension and social security. While he doesn’t own his home, he does have a life estate in it, making the house an asset to him. He had accumulated $50,000 in credit card debts, and was paying a home equity line of credit on the house. He tried a debt consolidation program, which only made things worse for him. Our client needed a fresh start, but couldn’t qualify for a Chapter 7 bankruptcy because of his income and his interest in the house. We managed a chapter 13 bankruptcy for him, making his payments manageable, while keeping his creditors at bay.
Trusted Brooklyn, New York Family Law Attorney helping NY residents with Elder Law and Asset Protection