Even in the modern day and age, bankruptcy has an image problem. When people consider bankruptcy today, they still see shifty folks who have mismanaged their finances or flamboyant investors who have lost everything after living lavishly beyond their means. In other words, even the bankruptcy that Greeley, CO sees has a certain element of shame attached to it.
And while this is unfair for anyone, it is especially unfair for senior citizens who are running out of retirement funds. Often, the shortfall in funding is not due to anything the person has done wrong or foolishly, but due to pension mismanagement or stock market conditions they have little control over – or medical emergencies they failed to foresee, or any other scenario. In Colorado, senior citizens enjoy special protections when it comes to their property and their health and bankruptcy, making it a strategy that any older person should consider when their financial situation worsens.
If you are elderly and facing the sort of bankruptcy that Greeley, CO sees far too much of, you may have considered taking out mortgages on a home you triumphantly paid off years ago, or skimping on medications and even groceries in order to make up shortfalls. These are all short-term solutions at best, and often leave people vulnerable to any further medical costs or other financial strains. Instead of facing such a fate, bankruptcy can offer a way to hit the pause button on a financial storm and give you time and space to make a plan, marshal resources, and otherwise find your way out of a difficult situation.
Contact a professional bankruptcy attorney today to discuss your situation before making any more decisions. This isn’t how your retirement was supposed to be – and it doesn’t have to be, with bankruptcy.