If you are approaching retirement and are considering bankruptcy protection, you may have questions such as “what happens to retirement funds in bankruptcy before you retire?" Or, if you have carried debt into retirement and are considering bankruptcy after the fact, you may wonder if your disbursements will be up for grabs or even your social security benefits. As with any bankruptcy, filed at any age, timing can be a factor. Sometimes it makes sense to file right away while other times it is … [Read more...]
Archives for July 2018
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Seniors Fastest Growing Segment of Bankruptcy Filers
If you are not financially ready for retirement, you are not alone. In fact, according to a Federal Reserve study as many as one quarter of all Americans have no retirement savings or pensions. Even those who have managed to set money aside may not have enough to see them through. Seniors are the fastest growing segment of bankruptcy filers in the U.S. In fact, a 2010 study out of the University of Michigan found a threefold increase in the number of bankruptcy filers 65 and older since … [Read more...]
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