Senior Citizen Bankruptcy

Although the image of the “golden years” is that they are a time of restful leisure and time spent with friends and family, there are many for whom this is not the case. The accumulation of debts coupled with the loss of income as one retires or is unable to work can leave senior citizens with financial obligations that they simply cannot afford. Of particular concern are the medical expenses associated with unexpected health problems or chronic conditions. It should be no surprise, then, that approximately 22% of all individuals filing for bankruptcy are seniors.

If you are a senior citizen faced with large amounts of debt, you do have options. Bankruptcy or debt negotiation can help ease some of your stress and cope with your mounting bills. The Arizona bankruptcy attorneys at the Harmon Law Office, LLC, are here to help. Contact us today at 480-829-0494 for a free consultation.

Reasons for Senior Citizen Bankruptcy

In recent years there has been a dramatic increase in the number of bankruptcy filings as a consequence of unfavorable economic conditions. Senior citizens who want to work may be unable to find employment, especially when they are facing a large pool of younger workers who are willing to work for less. This inability to earn may leave senior citizens unable to cope with the following:

• Health care costs
• Prescription drug costs
• Credit card debt
• Mortgages

Many of these circumstances may have been out of your control and, unfortunately, none of them can be reversed. A bankruptcy filing can help you to gain a fresh financial start.

Contact Us

You do not have to let your mounting debts take over your life. You do have options that can help you or your loved one's financial situation. The Arizona bankruptcy attorneys of Harmon Law Office, LLC, are here to help. Contact us today at 480-829-0494.