Senior Citizen Bankruptcy – Things I Consider

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“I got through the great depression not owing anyone a dime but now in retirement I am hounded by collectors,” is a complaint I often hear from a senior citizen  contemplating bankruptcy. Since seniors may disproportionally worry about collections, there are two common justifications for senior no-asset bankruptcies but properly counseling a senior about bankruptcy requires special sensitivity. During the initial consultation and before getting to the justifications for a Chapter 7 or Chapter 13 consumer or business bankruptcy, I want ...

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Bankruptcy Can Clear Most But Not All Loans and Debts

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Bankruptcy is an option when you find yourself drowning in a sea of debt but  talk to an experienced bankruptcy attorney about how it will affect your future because there are certain kinds of debt that can be discharged and other kinds that cannot. 

In bankruptcy many debts are dischargeable (forgiven) but some debts are non-dischargeable (still follow you). In general, debts that are most often dischargeable include: utility bills, vehicle loans, vehicle leases, rent that hasn’t been paid, debt in collections, medical bills, some tax debt, ...

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