Creditors of Elders Lie in Wait For the Kids: Why Bankruptcy May Be an Appropriate Choice, Even for the Judgment Proof

By Cathy Moran, Moran Law Group, Mountain View, CA

Is a client’s legacy to their kids an encounter with unpaid creditors?

Debt problems for those over 65 may not be problems for the elder at all. Income and assets are largely protected by law from creditors.

But that doesn’t trouble creditors: they’ll simply wait and get their money from the kids.

Seniors enjoy protection from collection

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Creditors’ Rights and Debtors’ Protections at the Intersection of Consumer Bankruptcy and UCC Article 9

August 30, 2020

By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) PART II – BASICS OF PERFECTION OF SECURITY INTERESTS Introduction Current circumstances, with a pandemic and a recession, portend a wave of bankruptcy filings. In the consumer bankruptcy field, trustees and debtors' counsel often are uncomfortable with the rules in UCC Article 9. In this space, we have previously looked...

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Judicial Year in Review 2021: A Quick Look at Revised Rules and Selected Case – Part 2 Selected Cases under Parts I-III of the Federal Rules of Bankruptcy Procedure

November 21, 2021

By Lawrence R. Ahern III, Brown & Ahern (Nashville, TN) Introduction Following Part 1's review of the December 1, 2021, changes in the Federal Rules of Bankruptcy Procedure, this Part 2 presents a digest of selected judicial decisions of interest for their procedural import arising under Parts I-III of the Federal Rules of Bankruptcy Procedure. Digest of Selected Judicial Decisions

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Credit Scores Trend Upward After Bankruptcy

November 3, 2019

By Cathy Moran, Esq. (Redwood City, CA) After bankruptcy, credit scores go steadily up, says a 17 year study released by the Consumer Financial Protection Bureau. Got that? Go UP. Every year. Importantly, credit scores start improving the same year that the bankruptcy is filed. Think on that for a moment. How collectors stoke fears about bankruptcy Creditors and their...

Bankruptcy’s Eternal Struggle

May 10, 2020

The timeless questions asked by mankind include “why are we here“, “which came first ...” and “coffee or tea“. Bankruptcy lawyers wrestle with “which controls, b-22 or Schedules I and J“. Having argued and lost the Pak case when BAPCPA was new, and felt vindicated when Kagenveama reversed Pak, I have strong opinions.

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341s: The Good, the Bad and the Ugly

Brandi Manuel Jolley

November 19, 2023

“The chief obstacle we have had since starting Zoom revolves around the lack of high-speed internet in our division.”

In Remembrance of Judge Theodor C. Albert

Scott C. Clarkson

August 10, 2025

“We remember and honor Theodor Albert not only for what he did, but for how he did it --with humor, humility, and heart.”

NCLC Seeks Signers Urging Foreclosure Pause When HAF Applied For

The Academy

January 16, 2022

NCLC seeking non-profit organizations to sign two letters (one to the CFPB and one to FHFA, FHA, VA, and USDA) urging the agencies to require servicers to pause foreclosure activity for at least 60 days after being notified that a borrower has applied for HAF assistance and meets conditional program eligibility. We ask organizations to sign both letters, and the...

More Federal Student Loan Debt Relief is Coming

Scott Waterman

March 24, 2024

An ordinary title for a very NON-ordinary article! A computer program which will accurately predict whether a borrower will default and relief extended based on the data. WHAAAT???

Safeguarding the Promise of a Fresh Start: Utilizing RESPA to Challenge Mortgage Servicing Errors Post-Discharge

Stephen F. Relyea

July 10, 2022

For many of the consumer debtors my firm represents, the primary purpose of filing bankruptcy is to save their home or other real estate from being foreclosed upon by their mortgage servicer. We help those debtors file and comply with chapter 13 plans that propose to resolve their defaulted mortgages in a variety of ways, which might include curing pre-petition...

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How to Build and Strengthen Your Chapter 13 Debtor Practice

The NACTT Emeritus Trustees

July 3, 2022

In these times of fewer case filings, it may be helpful to look at ways that debtor attorneys may build and strengthen their chapter 13 bankruptcy practice. The following are some recommendations and ideas from the Emeritus Trustee Committee:

Creditors of Elders Lie in Wait For the Kids: Why Bankruptcy May Be an Appropriate Choice, Even for the Judgment Proof

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Related Articles

Creditors’ Rights and Debtors’ Protections at the Intersection of Consumer Bankruptcy and UCC Article 9

Judicial Year in Review 2021: A Quick Look at Revised Rules and Selected Case – Part 2 Selected Cases under Parts I-III of the Federal Rules of Bankruptcy Procedure

Credit Scores Trend Upward After Bankruptcy

Bankruptcy’s Eternal Struggle

341s: The Good, the Bad and the Ugly

In Remembrance of Judge Theodor C. Albert

NCLC Seeks Signers Urging Foreclosure Pause When HAF Applied For

More Federal Student Loan Debt Relief is Coming

Safeguarding the Promise of a Fresh Start: Utilizing RESPA to Challenge Mortgage Servicing Errors Post-Discharge

How to Build and Strengthen Your Chapter 13 Debtor Practice

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