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Bankruptcy Among Senior Citizens Atlanta, GA

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Bankruptcy Among Senior Citizens

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While most people do not look forward to growing older, most would actually say that they do look forward to less financial strain once they retire. People generally assume that they will work hard for 30+ years and then meet retirement with welcome arms. They will reap the rewards of working for so many years by laying back and enjoying the rest of their years without the huge financial responsibilities that they stressed over before. These “golden years” are expected to be lived out peacefully and comfortably. However, more and more senior citizens are reaching retirement age bogged down with debt and unable to live as comfortably as they expected.

As the cost of living continues to rise each year in America, the “nest egg” that so many people work toward building must also increase. Some statistics indicate that the typical retiree has only $60,000 set aside to live off of during retirement. $60,000 sounds like a large chunk of money, but when you think about having only that much to live off of for 20 or more years to come, that is an incredibly small financial cushion.

Senior citizens often fall prey to health issues as they grow older. Prescriptions and treatments are often extremely expensive, and they can eat through a nest egg in an alarming rate. The cost of affording medical care is a huge burden on many senior citizens, and this is a huge cause of bankruptcy among this age group.

Disability and fixed incomes are also causes of bankruptcy among senior citizens. Many seniors find that they either need to continue to work, or that they enjoy working and do not want to give up their work. However, as workers grow older the chances of them becoming ill and unable to work increases. If a senior can no longer work and provide financially, debts can quickly mount up and bankruptcy is often a result. For those seniors who do choose to stop working, they are often only left with receiving Social Security benefits. These benefits are rarely enough to cover basic living expenses, and many seniors turn to credit to pay their bills – acquiring more and more debt in their later years.

Bankruptcy among senior citizens has been on the rise in the last decade. At Gingold & Gingold, LLC, we want to help seniors protect their retirement reserves so that they can spend each dollar where it is needed most. Seniors require the expertise and experience of a qualified bankruptcy attorney. Contact Gingold & Gingold, LLC today.

Posted on behalf of Jamie L. Gingold, PC

195 14th Street NE #1604
Atlanta, GA 30309

Phone: (678) 915-2634


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    Jamie L. Gingold, PC
    5.0 / 5.0

    Based on 28 reviews

    Jack L.

    They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

    Karen B.

    Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

    Lyla B.

    I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

    Julie T.

    Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

    Julie T.

    I contacted getting old and getting old regarding some old tax debt and credit card debt that I needed to address and had been putting off. miss Irving in the office was very very nice and put me at ease. I met with Jaime Gingold. She was very nice and explained the procedure to me and what would be left owing to the Internal Revenue Service and the State of Georgia after my case was done. My case has now been completed and I am on my way to a new start. Thank you Gingold and Gingold for all of your help.

    Anna T.

    Amazing! Outstanding!! They went over and beyond..I would recommend them to anyone needing a lawyer!!

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