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A challenging economy affects everyone. With home foreclosures and the prices of goods on the rise, and employment rates on the decline, each year millions of Americans find it necessary to file bankruptcy to protect their assets and secure their financial future.
At Ledford & Wu, our firm has a long history of guiding clients through even the most complex financial dilemmas. We are adept at carefully examining clients' financial situations and providing them with honest answers about the best steps to take. If it is right for you, our Chicago bankruptcy for the elderly attorneys can explain the benefits and obstacles in filing for either Chapter 7 or Chapter 13 bankruptcy.
It has been widely reported that the percentage of elderly filings is dramatically rising. Elderly individuals are staying in the workforce longer to pay off debt that they don't necessarily have to. We encourage the elderly to consult with a lawyer at our office to discuss their situation. It might be possible to eliminate a great deal of debt by filing for either Chapter 7 or Chapter 13 bankruptcy. With your unsecured debt discharged, it might be possible to alleviate your stress and concern over your financial future. Let us guide you toward a fresh start without the weight and strain of a mountain of credit card debt, medical bills or personal loans hanging over your head.
Many of our Illinois clients have noted that they considered cashing out their pensions, 401(k)s or other retirement funds to pay off debt in the present. We strongly encourage our clients not to explore this option. Often you must pay substantial early withdrawal penalties, not to mention the potential income tax that is payable, when these funds are protected when you file for bankruptcy. Let our firm advise you on the better options open to you.
Contact Our Office
Call 888-542-1900 or contact our offices by e-mail to discuss your options during a free consultation with an attorney.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
