Master the Debt Collection Process

Seniors worrying about debts should learn about their rights. In this video, Attorney Eric Olsen of the HELPS Nonprofit Law Firm walks through the debt collection process from unpaid bill to charge-off and judgement to reassure seniors and make sure they don't pay bills that they don't have to pay.
Time Stamps
0:00 Introduction to HELPS Nonprofit Law Firm and Attorney Eric Olsen
0:25 Learn the debt collector process
1:35 Seniors need to know your rights if you owe money
2:11 Most senior incomes including Social Security, can’t be taken by debt collectors. Your retirement income is protected from garnishment, so you don’t need to pay bills instead of paying rent, buying food, and other necessities.
2:53 How to stop debt collectors with a cease and desist letter
3:33 Debt collectors can’t force seniors to pay bills
4:44 What happens when a senior doesn’t pay their credit card bill
5:52 Odds are low of a credit card company suing a senior, although it may not matter if they do
6:20 All about charge-offs, when your debt is written off
7:20 The difference between a collection agency and a debt buyer
8:12 Does a cease and desist letter apply to the original creditor?
9:58 Can they repossess your furniture if you don’t repay a furniture loan?
11:14 All about medical debt collection
12:30 You can negotiate a debt easier with a debt buyer than a collection agency
13:40 If your debt is charged off, you still owe the debt
14:15 There’s little point to paying off one debt if you owe many debts
15:35 Rules debt collectors should follow
16:48 What happens if you’re sued by a credit card company
19:09 Twice the amount of Social Security you receive monthly is protected in your bank account
19:54 Exemptions could protect the rest of your bank account and other assets depending on your state
20:41 Consumer judgement creditors do not usually go after houses or other personal property, and there’s a way to stop it if they do. There’s no reason to panic if you get a debt judgement against you.
22:00 Debt collectors will not inform seniors of their rights
24:37 How to contact the HELPS Nonprofit Law Firm for free legal help
Low-income seniors often have difficulty paying their financial obligations, which can cause stress and worry. But former bankruptcy attorney Eric Olsen wants seniors not to worry about their debts, but instead to know their rights. Eric heads the HELPS Nonprofit Law Firm which helps low-income seniors and others who are struggling financially to deal with debt collectors. In this video, Eric explains the entire debt collection process from overdue bills to court judgements. He explains why seniors shouldn’t stress over unpaid credit card bills, how to avoid debt collector calls and letters, the differences between debt collection agencies and debt buyers, the odds of you being sued, why you don’t have to show up in court even if you are sued, and not to worry even if a creditor gets a judgement against you.
The former bankruptcy attorney also explains how the HELPS Nonprofit Law Firm could help seniors overcome their stress and worry caused by debt.
Jeff Hoyt is SeniorLiving.org’s Editor-in-Chief.
For more on your rights regarding debt, watch • How Seniors Can Overco...
For why seniors don't have to worry about old debts, watch • Why Seniors Shouldn't ...
To watch Attorney Eric Olsen explain why seniors don't have to worry about student loans, check out • How Seniors can Avoid ...
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To contact the HELPS Nonprofit Law Firm, call 1-855-435-7787 or visit helpsishere.org.

[@shirleygriffin7672]

Excellent . Thanks for sharing

[@AmericanConstellation]

As a retired person, do this. Don't answer your phone unless you recognize the number. Let your voicemail fill up and leave it that way. Don't respond to any mail, texts or email. The debt collectors will stop. As for your credit, if you are old, you don't need good credit.

[@sueharris6616]

You both are a godsend!

[@soniagrindstaff2416]

Wow thank you for this video

[@brucesnyder690]

Thank you for the great video and the knowledge in it. And the time you spent preparing it. It is a yrue service to us seniors.

[@SeniorLivingOrg]

You are very welcome!

[@blue123house]

Thank you for sharing your experience in such important and excruciating matters .

[@SeniorLivingOrg]

You're very welcome.

[@kallasusort2986]

Great non profit! Thank you for all this good information!

[@mollywhitman5219]

Can they put a lien on your home with a judgement?

[@HELPSNonprofitLawFirm]

This is covered under state law. Normally a judgment can become a lien on real property in the county where the judgment is filed. However, there are many exceptions and often means to remove the lien. Eric HELPS

[@jazman428]

I have collected on me from a medical bill that received funds from Medicare. It is on my credit report . There are three years left on my credit report. How can I get it taken off my credit report.

[@bobbyt3451]

im 58 living on ssi and need hep to file bankruptsy im in indiana and my home is valued at $14000

[@maryparker7305]

Thanks for the information.

[@SeniorLivingOrg]

You're so welcome! We hope you'll subscribe to our channel if you haven't already: kzbin.info/door/IYQwu7wEpLyijISnF5Z6eA

[@AmericanConstellation]

One more thing. Debt collectors buy debt for pennies on the dollar. Don't pay full price. They'll take almost anything. Just remember, as soon as you make one payment, the statute of limitations in your state starts all over again.

[@edenrobes3680]

If there is a judgement can they do entry by default

[@gloriaallenallen5861]

Question, I applied for rental assistance twice, the first time my landlord took 2,000 dollars of it he said for his paperwork he had to do for me to get it. The second time I applied they gave me 7,105 dollars, which he took 3,105 for the same reason. When it was time to pay rent again he went up on his rent so I can't afford to pay it. Now I have to try to fine other housing and can't afford it. Was he legal in doing that. Need to know. Thank You.

[@HELPSNonprofitLawFirm]

Sounds like you have been victimized. Consider contacting Legal Aid where you live. I am so sorry. Eric HELPS

[@hooperv]

I love your videos. But I can't find anywhere in any videos where you say what a senior is. I'm only 62 1/2 and i can't work and will only have Social Security to live on and only $800 because taking it early. Am I a Senior?

[@HELPSNonprofitLawFirm]

The laws we talk about are based on income SS, pensions, disability, VA etc not on age Eric HELPS

[@cynthiabrown7163]

Will

[@BC19572]

If someone has their ss direct deposited into their bank can debt collectors take that money from your bank account?

[@SeniorLivingOrg]

If the balance is less than twice their monthly benefit, then no. If more, it could still be protected.

[@bobbyt3451]

its all credit card debt and i own my home