Congratulations. You have worked for the last 30 years and are reaching retirement age. You have raised a family, maybe survived a divorce and remarried.
You have faced life's challenges with the tools you had available. Now, when you sit down and look at your options your realize you don't have enough money. You have contributed to your 401k for years. Maybe you have a $100k or a little more in there. You will draw $1500 a month for Social Security. Hey at least your house is paid off! But how can you survive with all those credit card bills? I bet you have paid on those bills for years and hardly made any headway on overall debt.
Bankruptcy is an overlooked option. People are often times afraid of even considering bankruptcy because they just don't know enough about it. They are afraid they will lose their house or their savings. That is just not true. There are two types of bankruptcy that are commonly available to individuals. Chapter 7 eliminates your unsecured debt but your house, your 401k, and your cars are protected from liquidation and from the reach of your creditors. Chapter 13 is a different option that can help you restructure your credit card payments into one monthly payment. In this type of bankruptcy all of your assets are protected.
If you are planning for retirement and have not considered filing bankruptcy please take a minute to look into it. Call me and I will discuss the options with you and how they will effect you.
Bankruptcy does not need to be scary. I can help you.