How Is Bankruptcy Changing?
In a recent article by ABCNews (https://abcnews.go.com/US/soaring-bankruptcy-rates-signal-coming-storm-broke-elderly/story?id=57150897), the article discusses the newest trends in bankruptcy. Why is this important? Well, the newest trends are showing that retired people are filing at alarming rates. At any age, we should all be concerned.
It is easy to try to say that the rise in elderly bankruptcies is just a case of poor planning, but that does not seem to be the issue. Healthcare costs are on the rise and it is impossible to know what healthcare you will need, much less how much it will cost you into your retirement. A single medical procedure can send your finances into a tailspin spiraling out of control and misconceptions about bankruptcy can put the best answer out of reach.
Bankruptcy is not about cheating anyone. It is not about getting something for free. It does not mean someone is a failure. Bankruptcy is about a fresh start. It is about catching a breath when you are drowning in a sea of debt.
Life is not supposed to be choosing between eating or paying the bills. You should not be terrified to answer your phone because debt collectors are threatening to throw you in jail. When your debt is getting to be too much, give our office a call so we can help you out of a bad situation, BEFORE it gets worse.