OpenTube

Seniors, Don’t Worry about Debt Collectors

SeniorLiving.Org

5,572 views

Throughout our lives, we learned that people who don't pay their bills will hear from Debt collectors contact and harass people who owe debt, including seniors. But many seniors don't realize that they have different rights when it comes to debt collectors. In this video, Attorney Eric Olsen, the Founder of the HELPS Law Group that helps struggling seniors and others in debt, lets viewers know about their special rights that protect their Social Security, pensions, and other retirement income and property from debt collectors and debt lawsuits. In this exclusive interview, Eric will explain why seniors shouldn't worry about debt collectors, the laws debt collectors should follow, how to easily stop debt collector harassment, how your income and bank account are protected from debt collectors, why you don't have to worry about getting sued, even if you lose, how to handle medical debt, student loan debt and state and federal tax debt, and how Eric's law firm, the HELPS Law Group, can help you.

Time Stamps
0:00 Seniors have special rights regarding debt collectors
1:05 Introduction to Attorney Eric Olsen and his Debt Collector knowledge
1:20 How big a problem is debt for America’s seniors?
2:06 How to stop debt collector harassment
3:32 All states have a statute of limitations regarding debt and what that means
4:49 How a “cease and desist” letter can get debt collectors to stop contacting you
7:11 How the laws protect your retirement income
8:50 Seniors who owe debt don’t have to go to court
9:36 Banks must protect some or all of a senior’s bank account
11:35 It’s not the practice of credit card companies to take property for debt owed
13:59 Debt collectors won’t tell a senior about their rights, but will scare them instead
14:53 Do’s and don’ts for dealing with debt collectors
15:24 Why you should never send a debt collector even a dollar
17:38 What to do when you owe medical debt
18:32 What if you can’t pay your student loans?
20:05 Seniors can qualify for currently non-collectible status to avoid paying income taxes owed
21:03 A state tax collector can not take your Social Security or your pension
21:29 Why seniors should not worry about debt collectors
22:26 Few will tell seniors that their income is protected, even debt management companies
23:03 How a senior can contact the HELPS Law Group to help them regarding debt
24:17 Real-life story of a senior who stopped paying debt he didn’t have to pay

Jeff Hoyt is SeniorLiving.org’s Editor-in-Chief.

Eric Olsen explains what bills struggling seniors do not have to pay in Lawyer Tells Struggling Seniors Which Bill...

To learn how seniors can avoid paying taxes legally, watch How Seniors can Avoid Paying Taxes... Lega...

For more on how to deal with debt collectors, watch Why Seniors Shouldn’t Worry about Debt Col...

Struggling? Here's what seniors need to know about debt: 5 Things Struggling Seniors in Debt Need t...

Subscribe to SeniorLiving.org on YouTube:
@seniorlivingorg

For more tips for seniors: https://www.seniorliving.org/

If you're interested in joining the hundreds of thousands of families who've found senior living communities on SeniorLiving.org, read the reviews on our website: https://www.seniorliving.org/housing/

To contact the HELPS Law Group, call 1-855-435-7787 or visit helpsishere.org.

~~~-~~-~~~-~~-~~~
Like to save money? Please watch: "The Best Senior Citizen Discounts"
The Best Senior Discounts
~~~-~~-~~~-~~-~~~

20 Comments

@questionMark4443 1 year ago (edited)

Thanks again gentleman I’ve retired 130,000 in credit card and installment debt after I found you two on YouTube. No harassment and never had to go to court 😊I’m a happy helps client 😊

@turboredcart 1 year ago

Those with very low income get HELPS for free

@earlsimpson3393 1 year ago

Out of all the videos I’ve seen on senior debt this one is the most Informative. Relieving, and comforting I’ve seen! THANK YOU! THANK YOU! THANK YOU !

@ramblinralph7609 1 year ago

I have more credit card debt than I can ever pay - ALWAYS good to hear Eric Olsen reassure me that the horizon is not totally dark. Thank you Mr. Olsen and SLO.

@MarkMcgrew-f8m 1 year ago

What..??

@angelaharris1112 1 year ago

Thank you sooo much for this video!

@letthetrumpetsound7893 1 year ago

Thank you both. Surely, you are doing God's work. Though I no longer worry. I have more time behind me than what's up ahead. I will not allow them to put a chokehold on the time I have left. Nothing will deter me from the joy of the Lord and THAT is how I plan on leaving this world. Peace of mind and blessings to all.🙏🏾

@organizer14 1 year ago

Thank you very much for sharing this info! Your kindness is greatly appreciated! May you be abundantly blessed!

@JamesSmith-dm3tz 11 months ago

yes it's the best I've found thanks

@feliciaweatherspoon2303 1 year ago

Thank you Jeff for sharing this video!! 💙

@angelaharris1112 1 year ago (edited)

The Only place I have ever given my acct and routing to is my life ins policy! I get way under 2500.00 a month. On my last year of disability then I switch to social security.

@angelaharris1112 1 year ago (edited)

I'm a Texan. They can only garnish for IRS debt, or back child support. But i have a debt that they are blowing my phone up. They are crooks. It's a CC that has literally had one excuse or another for charging extra fees.

@Nancy-eb4zx 1 year ago

Can you address how not paying a credit card monthly payment affects your credit score? I would think it would completely trash your score. That doesn’t seem like it would matter if you won’t be buying a home, applying for loans or trying to get another card, however many landlords now require a minimum credit score and run credit checks. If you could address this it would be appreciated.

@Cindy-d5e 1 year ago

Thank you for sharing

@sH-gh8ww 1 year ago

What about the common law now the property taxes that we should not have to pay property taxes and is there a form to file to stop them from a lean on the property .

@VeganWithAraygun 1 year ago (edited)

❤Liked and Subscribed. This is potentially life saving information...💯🎯... will be in touch with the interviewee

@Redpilled19 1 year ago

What about the balance in your account if it’s joint with your spouse, who also only has protected funds? The balance could possibly exceed twice the debtor’s protected amount.

@chuck9112 1 year ago

I'm 63 and collecting disability compensation. Disability is not even considered income, right?
Is it also protected from debt collectors?

@davidlaing7684 1 year ago

I had food stamps years ago then they said I was stoped but told I needed to use up my balance. Then 4 years later I received a letter that my Social Security was going to be garnished 15 % per month because they overpaid me for food stamps. And I had to pay it back even though they made the error. They did this three times then made an agreement for monthly payments. One July the cashed my payment sent in their provided envelope after the due date. It was mailed two weeks before the date. The following October they started garnishing because of the late cashing of the July check. Now they tell me that I had always been eligible to this date for food stamps and I get $85/ month with $10 toward the overpayment. So they do garnish S.S.