Are your parents facing overwhelming debt?
The debt could be from medical expenses. It could be from the high cost of living. It could be because a family-member committed elder financial abuse.
Regardless of the reason, living on a fixed-income is tough. They don’t need the added stress of collection agencies nagging them.
First, the BAD NEWS– bankruptcy is generally NOT an option for seniors in Alabama. Many elderly people own their home, which is paid for, and can lose their home if they file bankruptcy. Not a good outcome….
The GOOD NEWS, however, is that retirement accounts and monthly income are not “reachable” by creditors. AND, at their age, their credit rating is less and less important.
We can help your loved ones with problems like these. If you or a loved one is facing mounting expenses and want to learn more, call us. The call is free of charge.