Filing bankruptcy in retirement may not be such a bad idea by Cindy Perman, CNBC.com, is a good read for today’s retired population and their families. The article discusses the financial struggles retirees are experiencing due to poor insurance coverage, rising medical expenses, and inadequate living adjustments in Social Security, pensions, and retirement accounts.
Family members need to find a way to discuss the current financial difficulties with their parents or grandparents to ensure they are not living off of credit cards. Bankruptcy is not a word retirees want to associate with themselves. However, if retirees are struggling to make ends meet a bankruptcy consultation is the way for them to receive answers and hope for the future. A bankruptcy does not mean the loss of all your property, for many it means only debt relief.