Retired or Retiring Soon? You May Qualify to Retire Your Debts As Well
Senior citizens are the fastest growing segment of bankruptcy filings. Aging baby boomers have been hit hard by job layoffs, heavy losses in their retirement portfolios, medical issues and other hardships as they reach their planned or forced retirement age.
The law office of David F. Cannon in Nashville has helped many Tennessee seniors get relief from credit card debt, medical bills and other unsecured debt that has piled up. Because Social Security benefits are not counted in bankruptcy eligibility, most retirees easily qualify.
If you have retired, plan to retire or must retire early for health reasons, contact us to discuss bankruptcy as a possible solution to your mounting debt problem.
Nashville Bankruptcy in Retirement Attorney
Millions of Americans approaching retirement are dragging along a lot of debt. You are certainly not alone if you:
- Were laid off or downsized in recent years
- Have relied on credit cards to make ends meet
- Have incurred significant medical bills
- Require expensive prescriptions not covered by insurance
- Have adult children and/or grandchildren living with you
- Are threatened with home foreclosure
Social Security benefits are exempt from the Chapter 7 means test, so most retirees qualify almost instantly. Even if you receive $30,000 a year in dividends from your pension and retirement accounts, you will likely still be eligible to eliminate your debts.
One common problems for seniors is home equity. If you own your house outright or the mortgage is mostly paid off, you may exceed the bankruptcy exemption. Our knowledgeable lawyers can address all such special considerations to determine if you should file Chapter 7 or Chapter 13.
Keep What You Have Worked So Hard For
David F. Cannon is certified as a Consumer Bankruptcy Specialist by The American Board of Certification and The Tennessee Commission on Continuing Legal Education and Specialization. He has handled thousands of bankruptcy cases since 1991, and will help ensure that your retirement is not overshadowed by debt and that you retain as much property as possible under the law.
You can reach our Davidson County Chapter 7 asset protection attorneys at 615-800-3725 or toll free at 877-696-8680, or e-mail our law office today to arrange a confidential consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
