MANTECA, Calif. — A Manteca viewer worried about mounting debt and the risk of losing his home prompted advice from a financial expert on how to navigate tough financial decisions later in life.
Allen, 71, wrote to ABC10 saying he has $26,000 in credit card debt and still owes $20,800 on a 2021 Winnebago travel trailer. He said high payments have forced him to make only minimum payments on four credit cards while keeping up with the trailer loan through BMO. Having gone through bankruptcy in 2009, Allen said he is considering turning in the trailer but is unsure what to do next.
Financial coach and advisor Maureen Paley said situations like Allen’s are not uncommon, especially for people living on fixed incomes…