Every week, Clark and Washington gets calls from elderly clients asking for information about bankruptcy because of unmanageable debt.  And all too often, this debt arises because the senior overspent on television home shopping programs or because the senior succomed to the pitch of a telemarketer.

Last year the New York Times ran a story called "Bilking the Elderly, With a Corporate Twist."  The story documents the process of how mailing list vendors compile detailed information about seniors using telemarketing phone scripts, and how these lists are sold to unscrupulous companies who rip off elderly victims by selling useless products and services. 

One company, InfoUSA Info advertised lists of “Elderly Opportunity Seekers,” consisting of 3.3 million older people “looking for ways to make money,” and “Suffering Seniors,” 4.7 million people with cancer or Alzheimer’s disease. “Oldies but Goodies” contained 500,000 gamblers over 55 years old, for 8.5 cents apiece. One list said: “These people are gullible. They want to believe that their luck can change.”

Often bankruptcy can eliminate the debt that arises from these scams, but not before a senior loses his life savings or puts his home at risk.  If you are a senior or if you are a family member of a senior:

• put your name on the national no-call directory
• avoid revealing personal information if you enter sweepstakes as many sweepstakes are designed to collect personal information that will be sold to telemaketers
• create a "disposable" email address with Yahoo or Hotmail for use in any online form
• never reveal bank or credit card information to an unknown caller
• don't be afraid to hang up if you feel uncomfortable