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Disabled Vet with Income Problems

by Chris
(Missouri)

I am a 100% disabled vet. My income comes from my air force retirement, veterans disability, and social security disability. I just went through a difficult divorce and owe a credit union about 15,000, in an unsecured loan, and 31,000 to 2 credit card companies. Can this bank and credit card company come in and take away my income? I haven't paid these companies for 4 months, and I am getting inundated with phone calls.

Comments for
Disabled Vet with Income Problems

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Dec 16, 2010
 Disabled vet and debt collection
by: Gerri

Chris,

We are sorry to hear what a rough time you've been through. There is a very good chance your income is safe from these creditors. For your peace of mind, though, please at least schedule a a free consultation with a bankruptcy attorney to make sure that you are "judgment proof." If it turns out you are, then you can write a letter to the creditors explaining the situation, telling them that you've met with a bankruptcy attorney, and indicating that you cannot pay the debt.

They may still try to collect, but eventually the debt will go to collections. Once it does, you will be able to send the collector a cease and desist letter telling them the same thing, and asking them to stop contacting you.

I should also add that some states have laws similar to the federal Fair Debt Collection Practices Act that limit what creditors can do when they try to collect from you. The attorney should be able to tell you whether that's the case.

Hang in there and we hope things will soon look up for you.

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