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Credit Card Default

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Junior Member
What is the name of your state? Pennsylvania

My 75 yr old father is in failing health and because of increases in his housing and energy costs is having problems paying several large unsecured credit card debts he has.....some at confiscatory interest rates.

His current income consists of Social Security and a modest state pension.

I'm on the verge of suggesting that he go ahead and default on the credit cards. I realize that this will destroy his credit rating and I am prepared to deal with that if that becomes an issue. He currently has no savings and his assets consist of an inexpensive car (that I purchased for him, but it is in his name) worth maybe $4K and a small amount of furniture and personnal effects that is probably worth very little.

Other than hurting his credit rating, what other legal ramnifications would there be to simply defaulting on these debts?What is the name of your state?

Debt Guy

Senior Member
Your father can be sued. His SS income cannot be garnished. It is very unlikely that his state pension can be garnished.

His bank account will be subject to levy -- it gets complicated because if the source of funds is exempt then the account is exempt but it can be very messy and his funds could be frozen for several weeks or months.

Sounds like his property is of small value and not likely to be an issue.

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