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Seniors and Bankruptcy in Raleigh

Filing for bankruptcy in Raleigh is scary for everyone but for seniors, this can be an overwhelming situation. At the age of retirement, you are supposed to be enjoying life the fullest, doing things that you have waited a lifetime to experience. However, bankruptcy unfortunately does not see age boundaries so just as someone younger you could need the services of a qualified bankruptcy attorney in Raleigh if finances have spiraled out of control for some reason.

In addition to the initial struggle of bankruptcy in Raleigh, some seniors have a hard time regaining control once the procedure is over. This is why you need to choose a bankruptcy attorney in Raleigh who has incredible experience in this area of law but also someone with a compassionate heart who can provide resources and guidance afterwards.

Regardless of why you may need to file for bankruptcy in Raleigh, probably your greatest fear is losing your home, which could mean losing your independence. However, having the right attorney on your side will make a dramatic impact on the outcome of the case. Just because your home may be at risk does not automatically mean losing it.

Contributing Factors

There are many reasons that you may need to work with a bankruptcy attorney in Raleigh. The most common include a sudden loss of income, receiving less retirement income than anticipated, unexpected medical bills not covered by insurance, collapsed investments, increasing medical and medicine costs, or needing to provide financial support to adult children and/or grandchildren.

However, there are other reasons that seniors file for bankruptcy in Raleigh. For example, you might have fell victim to a scam, secured a loan through a predatory lender, or even had your identity stolen. If your financial problems are associated with anything like these examples, you need to talk to law enforcement authorities but also confide in a trusted family member or friend.

The challenge is that as a senior, most people feel shocked of being duped but the reality is that today’s criminals are extremely sophisticated. They know the right people to target, the things to say, and the promises to make sure if you have become a victim, this is not your fault. Even if you need to file for bankruptcy in Raleigh because of medical bills, loss of income, and so on, that too is out of your control.

Just because you are a senior does not mean you cannot start fresh. In fact, if you have lived with mounting financial responsibility for some time, bankruptcy will provide much-needed relief. As to the exact type of filing, the bankruptcy attorney in Raleigh that you hire will sit down to assess your financial situation and then make appropriate recommendations.

The bankruptcy attorney in Raleigh will work hard on your behalf to prevent you from losing your home but also stop creditors from hounding you. While you might feel as if you are the only senior in this situation, the reality is that seniors filing bankruptcy is actually quite common throughout the country. Instead of focusing on the negative, you and your attorney can work on a plan that will get you back on solid financial ground.

For a wealth of helpful information and recommendations on top attorneys who practice in and around Raleigh, you can visit Bankruptcy-America or a local service.[i]

[i] https://dockets.justia.com/browse/state-north_carolina/noscat-9

[i][i] http://www.bizjournals.com/triangle/news/2014/11/13/baxano-surgical-raleigh-nc-files-for-chapter-11.html