Jonathan Ginsberg, Esq.
Ginsberg Law Offices
Atlanta, Georgia
770-393-4985

Member of the national ElderCare Matters Alliance,
Georgia chapter

The recession of 2008-2009 has especially affected retirees whose fixed income investments no longer provide enough money to live.

For many retirees, credit card balances have increased the past several years and they can't even afford the minimum payments.  Others make mortgage payments on homes that are now worth less than the total mortgage debt.  Selling and downsizing is no longer viable.

As an option to help retirees out of their financial troubles, bankruptcy is often met with ambivalence.  Moreover, and not surprisingly, to hardworking, industrious men and women, bankruptcy represents both a financial and a personal failure.

Complicating the issue, many retirees hide debt problems from their adult children, or they make ill-advised decisions, such as liquidating retirement plans, long before they meet with their legal or financial advisors.

But before you dismiss the idea of bankruptcy, let's learn a little more about it. Read more on Special considerations for seniors facing bankruptcy…