You work hard all of your life just to reach your retirement years. You dream of spending your senior years relaxing and enjoying time with your partner uninterrupted by the demands of a career or job. Unfortunately, many senior citizens cannot enjoy their retirement due to financial burdens. They are struggling to pay their living expenses in addition to their debts.
There are many reasons why senior citizens find themselves in a poor financial situation. When senior citizens are on a fixed income, it can be difficult for them to pay for emergency expenses such as car or household repairs. Furthermore, their cost of living continues to increase without an equal increase in income. Unfortunately, the largest expense that many senior citizens face is the cost of healthcare. Even with Medicare and a supplemental insurance policy, many senior citizens struggle to pay co-pays. In many cases, senior citizens have no choice but to turn to credit cards to pay for their living expenses and personal needs.
Debt Solutions for Senior Citizens
It is unfortunate but many seniors keep their financial struggles private. They do not want to burden their family with their financial problems. They also come from a generation where you do not discuss money problems. Many senior citizens begin selling their personal items to generate extra income; however, there comes a point when there are no longer any assets to sell. If you believe that a senior citizen you know is struggling with financial problems, encourage him or her to discuss financial problems with an experienced bankruptcy attorney.
Some seniors are embarrassed about their situation and they are misinformed about how bankruptcy works. By meeting with a bankruptcy lawyer, they can get answers to their questions and discuss their bankruptcy and non-bankruptcy options. Having information is the first step in determining what course of action is in the senior’s best interest. In many cases, a senior citizen will qualify for a Chapter 7 bankruptcy filing thereby allowing the senior to discharge debts while protecting assets.
Taking the First Step
If you are a senior citizen or you know a senior citizen in financial distress, contact my office to schedule a free consultation. Each financial situation is different; therefore, bankruptcy may or may not be your best course of action. Only after discussing your financial situation and analyzing all of the various factors will I be able to give you sound advice about your legal options for resolving your debt problem. The first step is always the hardest; however, because the consultation is free and you are under no obligation, this step is truly risk free.
Contact an Experienced Mount Holly Bankruptcy Attorney
Personal Approach, Professional Service, Affordable Payment Plans
The Law Office of Travis J. Richards, LLC is a full-service Mount Holly bankruptcy law firm focused on Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, debt consolidation, credit repair, tax liens, student loans and foreclosure. We represent clients in Burlington County and throughout South Jersey.
Contact our office at 609-267-5297 to schedule your free consultation to discuss bankruptcy and non-bankruptcy alternatives. You may also use our convenient online contact form and one of our friendly, professional staff members will contact you to answer your bankruptcy questions and/or schedule a free consultation with Travis J. Richards.
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