Should you file bankruptcy after retirement?
Ideally, by the time you reach retirement age you’ll have enough assets to sustain a comfortable standard of living.
Unfortunately, there are many financial struggles retirees are experiencing due to poor insurance coverage, rising medical expenses, and inadequate living adjustments in Social Security, pensions, and retirement accounts.
Individuals need to take stock of their personal accounts to see if they are able to make their day-to-day living expenses.
If necessary, family members need to find a way to discuss these current financial difficulties with their parents or grandparents to ensure they are not living off of credit cards or potentially getting involved in a scam situation.
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 and peace of mind.