Debt isn’t fun at any age, but it can be especially scary for senior citizens.
Seniors normally don’t have regular paychecks coming in, and the bulk of their income may comprise of Social Security checks. They’re often dealing with life changes such as retirement or medical issues. All of the sudden, they have less money coming in monthly than they have in decades, yet their expenses are greater, and their debt is accumulating.
There are multiple avenues open to seniors, even if a situation seems hopeless.
For example, if there’s nothing you can do about your debt, you can still handle debt collectors a certain way so they treat you fairly or leave you alone. That’s a huge burden off your shoulders. Additional options in your situation may include bankruptcy, downsizing, reverse mortgages or debt consolidation.
Of course, each path has its pros and cons. This guide covers various methods of getting help with debt and who can help with each approach.
Above is a quote from A Guide for Aging Adults
Graying of U.S. Bankruptcy: Fallout from Life in a Risk Society, Indiana Legal Studies Research Paper No. 406
MUSINGS FROM DIANE:

Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.
*Important Note from Diane: Everything on this web site is offered for educational purposes only and not intended to provide legal advice, nor create an attorney client relationship between you, me, or the author of any article. Information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state. Make sure to check out their reviews.*
In Case You Missed It
Published On: February 4, 2025
Ruling voiding retention agreements and financing agreements, order disgorgement of fees, and imposing sanctions against MyAZLawyers, PLLC, Candace Kallen, EZLegalFees, LLC and Katherine Kiesel Arizona Bankruptcy Court Order - issued February 3, 2025 IT IS [...]
Published On: July 10, 2024
Update: 12/11/24 see article below from National Consumer Law Center, Inc. "NCLC": 15 Ways to Fight Foreclosure of Zombie Second Mortgages Introduction: Zombie mortgages, particularly "zombie second mortgages," are a troubling phenomenon where old, seemingly [...]
Published On: July 5, 2024
What are the Basic Bankruptcy Principles? Bankruptcy is a legal process that helps people and businesses overwhelmed by debt get a financial ‘start fresh’. The principles of discharge, disclosure, and due process are key to [...]
Published On: March 30, 2024
After 100 Years of Protecting Homeowners, Arizona's Law Changes to Give Creditors New Rights to Take Your Home Depending on the value of your home, creditors can now take it if [...]