CALL FOR A FREE
INITIAL CONSULTATION
813.254.5696

BRIDGING YOU TO A BRIGHTER FUTURE

Debt doesn’t often become easier to handle in retirement

Retirement is something that those in the top age group of the workforce often look forward to. After punching the clock for most of their adult lives, those nearing the retirement age can’t wait to spend some time enjoying their grandchildren, their hobbies or simply relaxing for a while. Although the golden years are something that is looked forward to, financially it isn’t always the easiest time in life.

For those nearing retirement in this current era, the funds seem to be less full then many couples planned for. Many people lost large chunks of the retirement funds in the past few years that they set aside or had planned to rely on. The economic recession, job crisis, housing crisis and every other financially negative situation in the recent past caused a lot of personal debt and inadequate retirement funds. In fact, according to a Fidelity Investments survey, approximately half of the baby-boomer generation will say goodbye to their work schedule with debt.

Debt can be difficult to get out from under while earning at our full earning potential. It is hard to work ahead and cut away at outstanding balances. In retirement, monthly income is often lower. The last thing that retirees want to happen would be to run out of money, be unprepared to handle medical issues that come with aging or to have to just scrape by.

Paying down your debt before you retire can help avoid a negative situation. If you are already having trouble paying down outstanding debt, Chapter 13 provides an avenue to reorganize debt so that it becomes manageable. A Chapter 13 reorganization plan consolidates the claims of multiple creditors into a payment that the debtor can afford.

Source: Kiplinger, “Downsize Your Debt Before You Retire,” Eleanor Laise, Jan. 22, 2013

If you want to learn more about how Chapter 13 debt reorganization, our Tampa website provides information on the overall process and how different types of debt are handled.

 

Tampa Bankruptcy Law Blog

Top Three Bankruptcy Tips

Top Three Bankruptcy Tips

Filing for bankruptcy can be an overwhelming experience. Many people postpone filing to avoid the intimidation and anxiety they assume
Read More
Is there Such a Thing as Bankruptcy School?

Is there Such a Thing as Bankruptcy School?

If you’ve heard anyone talking about bankruptcy and what’s needed to successfully use it to remedy financial problems, you might
Read More
Three Important Things to Know about Bankruptcy and Taxes

Three Important Things to Know about Bankruptcy and Taxes

Bankruptcy offers relief when debts have gotten out of control. Chapter 7 bankruptcy results in a discharge of certain debts, which
Read More
What Happens When You are Sued for a Debt?

What Happens When You are Sued for a Debt?

If you’ve been served with a notice from a creditor that you’re being taken to court over a debt, you
Read More
Why Researching Bankruptcy Online Could Be a Mistake

Why Researching Bankruptcy Online Could Be a Mistake

In this day and age, the first place we turn for information is the internet. It’s convenient, free, and easy,
Read More
Why the Meeting of Creditors is the Scariest Part of Bankruptcy

Why the Meeting of Creditors is the Scariest Part of Bankruptcy

Filing for bankruptcy is a scary experience, but within the entire process from start to finish, the 341 Meeting of
Read More
How Do You Benefit from the Automatic Stay?

How Do You Benefit from the Automatic Stay?

Bankruptcy offers a variety of benefits. One of the most important is the automatic stay. Bankruptcy’s automatic stay stops bill collectors
Read More

The Secret Trick for Making the Most of Bankruptcy Exemptions

When you file for bankruptcy you take a risk. You’re risking that the choice you’re making now will improve your
Read More

Leftover Debt: What You Can Expect to Pay after Bankruptcy

Bankruptcy can free you from financial burdens that have plagued you for years. It can make your life easier and
Read More

Is Chapter 13 Bankruptcy the Best Option for You?

Deciding that bankruptcy is the right solution to help you with your financial struggles is a big commitment. Many people
Read More

Contact Us

Archive

Request a FREE Consultation

For The Next 5 Days Get A Free Book About Bankruptcy


 
comodo 10.0Robert Marc Geller
Robert Marc GellerClients’ ChoiceAward 2017 Robert Marc GellerReviewsout of 32 reviews LEA

We are A Debt Relief Agency.
We help people file for
bankruptcy under the Bankruptcy Code

Pay Online    

Office Locations

$Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405
Maps & Directions


Tampa Law Office Map

Satellite Office

$Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G

St. Petersburg, FL 33701
T: 727-532-3939
Maps & Directions


Map and Directions

At the Tampa Bay law firm, the Law Offices of Robert M. Geller, P.A., we help people with consumer bankruptcy matters in the Tampa Bay-St. Petersburg,  Florida communities such as Clearwater,     St. Petersburg, Tampa, Thonotosassa, Riverview, Lutz, Plant City, Brandon, Carrollwood, Wesley Chapel, St. Petersburg Beach, Lakeland, Mulberry, Dade City, Pinellas Park, Largo, Seminole, Odessa, Oldsmar and Lithia, and counties such as Hillsborough County, Pinellas County, Pasco County, Polk County and Manatee County.