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Bankruptcy May Be Your Option

Elderly consumers subject to harassment by debt collectors

It is a sad reality that many of society's predators target the elderly in the hopes of taking advantage of a group of people who may have become vulnerable in their advanced age.

An elderly person may have acquired debt for a number of reasons, whether it was through poor money management or increased expenses, or even helping out children or relatives in a financial crisis. Accumulating debt as an older person can be an especially scary situation because many times older people are retired and living on fixed incomes from savings and pensions. The inability to find work or being unable to work due to health concerns may prevent them from supplementing their income so they can pay down a debt.

According to the Consumer Financial Protection Bureau and the Office for Older Americans, debt collection and debt collectors are a major concern for the elderly.

Many older Americans have complained that they are unaware that a debt has been incurred until it has been put in collections. They complain that they are being badgered by collection agents while trying to understand the origin of the debt and clear up possible misidentification.

Many older consumers claim that the debt collectors are given inaccurate information concerning the debts they are trying to collect on. All of these issues would be trying on any American but the unnecessary stress and worry on the elderly can even have serious health repercussions.

The most distressing of all the complaints made by older Americans against debt collectors is how they treat consumers when attempting to enforce collection of a debt. Complaints have been made that debt collection agents have used offensive language and made threats towards elderly consumers in an effort to inspire re-payment.

By retaining an experienced debt relief attorney an older person living in Oklahoma will have a strong defense against these unscrupulous maneuvers. They will be able to clear up any issue concerning their finances without having to suffer harassing phone calls and scare tactics.  

Source: Consumer Financial Protection Bureau: Office For Older Americans, "A snapshot of debt collection complaints submitted by older consumers," Nov. 2014 

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