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Creditors and Bankruptcy/Friend needs to lower credit card payments

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Question
I have a 67-year old friend who is living in Iowa purely on social security and SSI, around $700 per month total. He has $4500 in credit card debit and pays the minimum payments each month, totaling $150 per month. He could afford to pay $50 per month but not $150 per month. What do you recommend? Thank you.

Answer
There is not enough information provided for me to give advice. What you can do is to take your friend to see a local bankruptcy lawyer. Find a lawyer who offers a free consultation. I would like to be able to say that he can simply quit paying, but I don't have enough info to be completely comfortable saying that.

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Los Angeles Bankruptcy Attorney Leon Bayer

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I can answer all questions relating to debt collection, credit reporting problems, credit scores, bankruptcy, debt settlements, debt settlement scams, and dealing with debt collectors. For many years I have been one of your volunteer experts for the topic "Bankruptcy Law". I would like to receive more questions. I'm thinking that many relevant questions get asked under this catagory as well as my own. See my stats, below: Los Angeles Bankruptcy Lawyer Leon D. Bayer U.S. Available View Profile Ask A Question View Past Answers Knowledgeability9.96 Clarity of Response9.93 Politeness9.97 Response Time(hr)14.6 --Last 90 Days(hr)7.6 Total Questions1119

Experience

34 years as a practicing bankruptcy attorney, published book author on topics of bankruptcy and foreclosure. See, http://en.wikipedia.org/wiki/Leon_D._Bayer

Publications
See, http://www.nolo.com/law-authors/leon-bayer.html

Education/Credentials
BA degree, J.D., admitted to California Bar in 1979.

Awards and Honors
President, 1995-1996-Los Angeles Bankruptcy Forum; Member - Los Angeles County Bar Association Committee on Commercial Law & Bankruptcy, 1988. Law Advisory Commission-Personal & Small Business Bankruptcy Law of the State Bar of California, 1996-2000

Past/Present Clients
Over 15,000 bankruptcy cases.

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