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Inheritance and creditors
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Posted by Arnie
(24.154.232.81) on April 15, 2003 at 22:10:37:
Three years ago, I became un-able to work and had to go on SSDI. Up until this time I'd been able to keep my credit card payments on several cards with high balances paid up-to-date; however, after going on SSDI, I was unable to do this. After paying my rent, utilities, and other bills, there was no disposable income left for anything else. So, needless to say, for the past three years, I've been hounded by collection agencies about these past-due credit cards.
Last Dec., my father passed away and left me a modest sized inheritance. The will is now out of probate, and the financial distributions to myself and the other beneficieries will be made in about four months. My concern and question is, how likely is it that these collection agencies will find out about this inheritance of mine? I do not plan on putting any of the money in the bank until the SOL on these accounts is ended which will be in a year. I plan on paying off other debts that I have on furniture and repairs for my car, but I just can't see paying these creditors anything since they did nothing but add late charges and over-the-limit fees due to the late charges they'd added on in the first place which made the accounts then over-the-limit. This type of thing continued on for I don't know how many months even though I wasn't using the accounts. They showed me no consideration when I became disabled and couldn't pay them the entire amount due to them each month. With the interest that they have added on over the past three years, the amount I now owe on these cards is ridiculous. I am 55 years old, and will probably never be able to work again, and this money is the only money I will ever have for my old age and any other things that I might need. I live in Pennsylvania. Sure would appreciate any advise anyone could give me. Thanks.
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