• Question
  • We have 26,000 of credit card debt, Do you think we should just end it all?

    Asked by a 81 year old woman from The Villages, FL on 4/27/2015

    We have 26,000 of credit card debt, Do you think we should just end it all?

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  • Categories: Paying Off Debt, Retirement Planning

Answers

  • Steve 

    Steve 
    NewRetirement

    San Francisco, CA

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  • We are very sorry to hear how stressful your financial situation is to you.

    First, I hope that these resources are not necessary, but here is a list of suicide prevention hotlines in Florida: http://www.suicide.org/hotlines/florida-suicide-hotlines.html

    All financial situations CAN be resolved. You should be proud of yourselves for seeking help.

    Without understanding your full financial picture, it is difficult to offer specific guidance.

    However, let us start by providing you will some resources that might be able to best counsel you on both your financial and mental health:

    Elder helplines in Florida. http://elderaffairs.state.fl.us/doea/elder_helpline.php

    Florida senior legal services: http://elderaffairs.state.fl.us/doea/legal_services.php

    This is an article on debt counseling for seniors http://www.huffingtonpost.com/jim-t-miller/debt-counseling-programs-_b_3553311.html . To locate a credible agency in your area, use the National Foundation for Credit Counseling website at debtadvice.org or call 800-388-2227.

    I hope that resources are of use to you. Please let us know if we can provide any additional assistance.

  • Login to rate this answer:   Answered on 4/28/2015
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.