Jupiter Bankruptcy & Retirement Lawyer
You work hard all of your life to save money for your retirement. Unfortunately, unexpected circumstances can quickly arise, jeopardizing your savings and the quality of life you looked forward. Payments on credit cards, mortgages, medical expenses, and other types of debts can eat away at your monthly income, causing you to dip into retirement accounts. Before depleting the funds you have accumulated over the years, reach out to the law firm of Nowack & Olson, PLLC first. With over 40 years of combined legal experience, our Jupiter bankruptcy & retirement lawyers can help eliminate financial struggles, while helping ensure your assets are protected.
We Defend You Against Mounting Debts During Your Retirement
Unforeseen expenses can quickly add up, threatening your dreams of retirement and the nest egg you worked so hard to build. According to a 2018 report in Forbes, health care and medical costs are one of the biggest items that eat away at retiree funds. On average, people over the age of 65 can expect to spend upwards of $280,000 providing for their medical needs over the course of the years they spend during retirement.
At the law firm of Nowack & Olson, PLLC, we know that added expenses can leave you struggling to pay your mortgage and daily household bills, as credit card balances, personal loans, and other debts continue to increase. Meanwhile non-payment of hospital and doctor bills can result in harassing calls and collections actions, including liens and civil judgments. Our Jupiter bankruptcy and retirement lawyers are here to help you find ways of eliminating debts, protecting your assets and reducing the likelihood of losses and repossessions.
Protecting Your Retirement Assets
Too many retirees end up dipping into retirement accounts in an effort to pay off debts. This is a bad idea. In addition to jeopardizing your current and future financial security, it is unlikely to make a significant dent. Once you fall behind on credit card and loan payments, the high interest rates and penalty charges these companies add make it next to impossible for you to ever get caught up.
As a result, you could face legal actions where a creditor threatens to seize property and assets. While the Employee Retirement Income Security Act of 1974 (ERISA) protects employer provided pension and retirement plans, creditors may still a lien or judgment on property and other assets you possess.
In these situations, the law firm of Nowack & Olson, PLLC works with you to explore whether bankruptcy may be an option. Depending on your situation and the type of bankruptcy you file, you may be able to eliminate unsecured debts, such as credit card balances, while negotiating payments on your house, vehicle, or other secured loans, allowing you to retain ownership and lowering your monthly payments.
Contact Us Today for Help
Bankruptcy is designed to help honest debtors like you regain their financial security. To discuss whether filing may be an option in your case, reach out and contact our Jupiter bankruptcy and retirement lawyers to request a free, 60-minute consultation today.
