Tuesday, February 12, 2013

Bankruptcy Today for Retirement Tomorrow

bankruptcy retirement planningMost people plan to retire when they reach a certain age, and leave the stress of working everyday behind.  Retirement brings with it its own stresses.  Especially if you have not saved adequately to support your lifestyle.  Saving for retirement in today's economy may seem like an enormous obstacle.

People who are making their monthly payments, but have nothing left to put aside for retirement are some of the best candidates for bankruptcy.  Not putting money away for retirement now can lead to poor living conditions later in life or becoming a financial burden on your family.  The amount of money a family spends on just the minimum payments toward their credit cards, could instead be used to put quite a bit of money away for retirement.  Retirement savings, no matter the amount, can help ease the financial burden of getting older.  Retirement savings is next to impossible for people struggling with credit card debt.  Bankruptcy can help people start planning for the future instead of simply living paycheck to paycheck. 

Experienced bankruptcy attorneys can always go over all your options with you to determine if bankruptcy is the right path for you.  I urge everyone to look at their finances and if you simply cannot save any money for the future I urge you to contact a bankruptcy attorney today.  Filing bankruptcy to prepare for life down the road is not being financially irresponsible.  I argue that by planning for the future you are being financially savvy, and trying to correct a situation that could affect your quality of life in your later years. 

Alternatively one of the worst mistakes I see people make when they come into my office is throwing good money after bad debt.  I see so many people who have tried to dig out of their debt to no avail by emptying their 401k accounts.  These accounts are completely protected from creditors, and should not be used to pay current creditors.  Do not leverage your future for a short term solution today.

If you have questions regarding bankruptcy in Indiana please contact Jackson & Oglesby Law at (877) 489-0908 or visit us at www.IndyBankruptcyLaw.com. Jackson & Oglesby Law can assist you with all aspects of your bankruptcy case. If you have questions regarding Chapter 7 bankruptcy, Chapter 13 bankruptcy, stopping foreclosure or wage garnishment, avoiding liens, stopping law suits, discharging debt, etc. we can help! Please call us today for your free phone consultation to determine which bankruptcy may be right for you.

17 comments:

  1. I had a buyer that wanted to buy a home in Arizona, but he had a Chapter 7 bankruptcy 7 months ago. After researching the web I found a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure, short sale, or bankruptcy. There is only a six month waiting period. Good to see lending options coming back.

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  4. Thanks for the advice! I am looking for some financial help, and I need to find a bankruptcy attorney in chicago il. Any suggestions? Thanks!

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  5. Good point, that is why, whenever young and before retirement, one must have forced savings and social security insurance to become more capable in later life.

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  6. Don't let a foreclosure stop you from buying a new home. See Comstock if you have a buyer in need. They have a flexible credit loan. This program assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy.

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  7. Its a nice post, it is important to keep financial management for better retirement plan.

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  8. I agree that bankruptcy can help get you planning for the future. It's also something that you should really think and study about before actually going into it. There are quite a few people out there who deal with bankruptcy and can help you through the process. http://www.brackettandstrunk.com/bankruptcy-debt-relief-knoxville-tn.html

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  10. This is why I tuck away whatever I have left to spare at the end of the month. Once I'm done with school and get a better paying job, that amount should increase. I always have money left to spare at the end of the month because I restrict my spending. I take my income for the month, subtract the constant payments like rent, and then figure out what I can spend on everything else with percentages I set for myself. That way I never accidentally overspend. Don't set yourself up for bankruptcy later in life.

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  11. Wonderful stuff future Bankruptcy.

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