OpenTube

Six Secrets Debt Collectors Will Not Tell Seniors

SeniorLiving.Org

141,358 views

In this informative video, attorney Eric Olsen, the founder of the HELPS Law Group, reveals critical information every senior must know about protecting their financial assets from debt collectors. This guide explains the legal rights seniors have regarding their Social Security, pensions, and retirement savings, providing clarity on how these income sources are shielded from debt collection actions.

Key Topics Covered:
Legal Protections: Understand the laws that safeguard seniors from aggressive debt collection tactics.
Rights of Seniors: Discover what debt collectors are required to disclose and the specific rights seniors possess.
Protected Income: Learn why your Social Security, pension, IRA, and 401(k) are typically exempt from creditor claims.
Debt Responses: Explore effective strategies, including cease and desist letters, to halt unwanted communication from debt collectors.
Bank Account Safety: Understand the regulations that protect some or all of a senior's bank savings, even in debt lawsuits.

Time Stamps:
0:00 Introduction: Legal protections for seniors
0:30 Meet Eric Olsen: Expert on debt collection issues
1:29 Rights seniors should know regarding debt collection
2:31 Overview of laws against debt collector harassment
3:09 The protection of Social Security benefits
4:35 Pension and retirement accounts: What seniors need to know
5:41 Financial decisions: Using IRA funds to settle debts
7:18 Crafting a cease and desist letter
11:36 Bank account protections for seniors
14:04 Understanding creditor rights and property protections
16:31 Contacting the HELPS Law Group for assistance
17:44 Misleading information from debt management companies

For related resources:
Learn about what bills seniors don't have to pay: Lawyer Tells Struggling Seniors Which Bill...
Discover legal tax avoidance strategies for seniors: How Seniors can Avoid Paying Taxes... Lega...
Tips for managing interactions with debt collectors: Why Seniors Shouldn’t Worry about Debt Col...

Resources for Seniors:
Subscribe for more tips: @seniorlivingorg
Visit https://www.seniorliving.org/ for additional information and resources.

For personalized assistance, reach out to the HELPS Law Group at 1-855-435-7787 or visit https://helpsishere.org/.

Related Content:
Explore senior discounts: The Best Senior Discounts

This video serves as an essential guide for seniors looking to navigate debt challenges and protect their financial well-being.

20 Comments

@robinkennedy9536 10 months ago

I worked for debt collectors and learned what to do......sleazy industry at best; evil in fact.

@brenda0823_ 10 months ago

I had a debt collector calling 4 to 6 times a day, I contacted a lawyer and sued them and won. Not much but threw it back in their face!

@Sylvan.Crossings 10 months ago

We're so glad this video exists. The stress that debt collectors put on seniors is just awful, and knowing their rights—especially that Social Security is protected—brings huge peace of mind. Thank you for making this complicated stuff clear! 👏

@JimmyBlue2u 10 months ago

Eric and Helps turned my life around 4 years ago and gave me peace.

@edjopago1 10 months ago

Eric Olsen and his law group REALLY care!!!!!

@deborahsigler5403 10 months ago

Thank you so much. We barely get by on our monthly SS

@jeanelegarrett3273 10 months ago

I was told by a lawyer that I could not be charged they could not take my pension or my SS money to pay my bills ! I was calling about filing about bankruptcy and he said I didn’t need to !

@Kerry-Lynn 10 months ago

I think there are more scammers out there ACTING like debt collectors than legitimate debt collectors which is even worse. My guess is they get the cast offs from very old debt that debt collectors have given up on.

@turboredcart 10 months ago

BE SURE to see Erics LIVE, 4 days a week. Often `1pm et.

@geminiascension7018 10 months ago

Debt collectors along with the lawyers have put liens on my house. I live solely on my Social Security Retirement.

@b-villeboy2704 10 months ago

Thank you for putting up your help phone number. I have a 42 year old son, but he really doesn't want to be bothered with me or my concerns. I am alone, and I certainly can use your help. Thank you is all I can offer you in return.

@bmcgar 9 months ago (edited)

I was a collector for many years long long ago and before 1978. I never abused a creditor, nor did my company expect me to. What I did do was a lot of financial counseling. I hope I did some good.

@Savannah-ed4rv 10 months ago (edited)

I watch almost every live stream of eric's monday through thursday, and even though i'm current on my debts, , i appreciate knowing all the information that he provides. It's very reassuring to hear it told over and again so that I can feel confident if things change that I won't have to pay my debts. I first found eric on this channel and I want to thank you for having him as a guest so that I and many other people could get the information that we need ❤❤

@michaelcook9390 10 months ago

i'm 66 and had to go though this 2 times, DON'T answer the phone if you don't know the number, if they send you emails or letters then send a cease and desist letter with all the laws pertaining to your ss and everything stops

@lennywinbox1734 10 months ago

LISTEN UP SENIORS set your cell phone to "silence unknown callers" if you get a call from a number you don't know, DON'T ANSWER IT, BLOCK IT. Businesses and people you know, put them in your phone's address book. Do not share your contacts with anyone or apps, etc.

@simon5005 10 months ago

Awesome! This is exactly what I needed to hear now, as I was about to take $3000 from my Fidelity to pay my two credit cards! TY so much for this info!!!

@Marcia811 9 months ago

I paid $25.00 a month until it was paid. I was never questioned about it, and I never missed a month. Never heard from them.

@iwuvmybigfamily 10 months ago

And they don't waste any time putting it on your credit report either! That what i was upset about 😢

@trace-elementz1343 10 months ago

I know from my parents and the family lawyer that making a Trust protects a person from most scams, lawsuits, etc...

@brianquinn989 10 months ago (edited)

They buy your debt from another debtor. That doesn’t give them any right whatsoever to collect the money from you. If they call me I just tell them I don’t speak to debt collectors. They never call back. They just keep sending bills every so often and eventually stop.