Answered on Mar 14th, 2011 at 1:09 PM
Assuming that the value of your property is not too much (and you need to consult with a lawyer on this), it sounds like a Chapter 7 bankruptcy filing might be what you need to wipe out your debts. Although you might be judgment proof because of low income and no property that can be taken, many senior citizens want peace and don't care much for credit. Therefore, bankruptcy might be what you need to stop the calls, letters and lawsuits that will eventually arrive if you do not pay. Make sure you have an office consultation with a local bankruptcy lawyer. It is usually a free initial office consultation so that you can have all the information you need to decide what is best for you in your particular situation.