Are You Too Old To File For Bankruptcy?

Are You Too Old To File For Bankruptcy?

Reasons to Avoid Filing Bankruptcy is not the right solution for everyone, getting rid of a series of debts with bankruptcy can mean eliminating your credit card debt, personal loans or medical debt. Unsecured debts are not backed up by collateral and secured debts are items that cannot be discharged. A secured debt could be a support payment. Taking a look at your debts and discovering what is secured and what is unsecured can help you determine if it may be wise for you to file. If the majority of your debt is a secured debt, it may not be advantageous to file at all. Why You Should File If you have a large portion of unsecured debt, it’s important to remember that you are never too old to file. You might find your way into a position where it’s difficult for you to repay your debts. Getting stressed about these debts in dealing with creditors can be harmful to your peace of mind. Creditors will also work to claim for payment on your estate after your death. Working to wipe out your debt in bankruptcy while you are living will make sure that your family will not be responsible for working with your creditors after you pass away as well. If you would like to discuss your options for managing debts or eliminating debts as a senior, contact our bankruptcy attorneys today. We can make sure the process of discharging your debts can be done easily no matter what age you are. This post was written by Trey Wright, one of the best Bankruptcy Lawyers in Tallahassee Florida. Trey is one of the founding partners of Bruner Wright, P.A. Attorneys at Law, which specializes in areas related to bankruptcy law, estate planning, and business litigation. The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only.  Information on this website may not constitute the most up-to-date legal or other information.  This website contains links to other third-party websites.  Such links are only for the convenience of the reader, user or browser; the ABA and its members do not recommend or endorse the contents of the third-party sites.]]>

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