Retirement and Bankruptcy
Helping Clients on Fixed Incomes Eliminate Debts and Plan for the Future
If you are retired and on a fixed income, you need to make the most of that income to pay for the things that are really important. If your credit card payments, medical bills and other debts are eating into your fixed income, an experienced bankruptcy lawyer can help.
At the law firm of Gingold & Gingold LLC, we are prepared to guide clients through retirement and bankruptcy. Our firm is made up of two experienced attorneys: Ira D. Gingold, who has been a bankruptcy lawyer since 1971 and Court-appointed Bankruptcy Trustee from 1971-2013, and Jamie L. Gingold, who has been practicing bankruptcy, business and real estate law since 2001.
Understanding How Bankruptcy Can Protect Your Retirement Income
People on fixed incomes are often especially nervous about filing bankruptcy. Much of this is due to myths that have been spread by creditors. Here is the truth about how bankruptcy deals with some of the most common types of debt that retired people have:
- Credit card payments can eat into your monthly income for the rest of your life. If you make the minimum payment every month, it may take you 30 years or longer to pay off your balance. Credit card balances can be discharged (wiped out) in bankruptcy.
- Medical bills can also be wiped out in bankruptcy. Many retired people are afraid that if they wipe out their medical bills, they will not be able to get treatment in the future. The truth is that your Medicare and insurance will take care of your future medical bills, and doctors and hospitals will still treat you even if you discharged a medical debt in the past.
Bankruptcy also offers ways for retired people to deal with mortgages, home equity loans, car loans, bank loans, finance company loans and many other types of debt. We can help you work out your debts so you can use your fixed income to take care of what is important.
Elder Bankruptcy Lawyers · Georgia
At Gingold & Gingold LLC, we are committed to helping clients make the most of their retirement income. To schedule a free consultation, call us at (404) 685-8800 or e-mail us today. We have office locations in Atlanta, Cumming, Dallas, Douglasville, and Duluth, with evening and weekend meetings available by appointment.