The Allmand Law Firm, PLLC Difference

Unlike most bankruptcy firms in the Dallas / Fort-Worth area, Allmand Law Firm, PLLC spends the time to understand the complete financial picture for every one of our clients. We provide resources, tools and advice to address the unique needs of North Texans.

Job Losses And Economy Batter Seniors

Posted By admin || 5-Jun-2009

According to an article in the Dallas Morning News, over 1.8 million senior citizens are searching for work but can't find it in this economy. And for those who do have jobs, more than 26 million senior citizens are delaying or completely foregoing retirement due to battered 401(k)s, missing pensions and devalued homes.  And for those seniors who are facing job losses and/or reduced income many are also facing the prospect of foreclosure as they struggle to hold onto their homes and other assets.

Most of these seniors facing job losses and/or foreclosure have done everything right.  They went to school, found and secured a steady job; but now as the economy takes a nosedive they're finding that they simply can't keep their head above water. It just goes to show you that foreclosure, job losses and hard times can happen to the best of us.

But it's important that seniors facing foreclosure or job losses consider all their options before depleting their savings, raiding their retirement or dropping their health insurance. Considering bankruptcy as one of your options is an important part of retirement planning.

Because you never know what the economy can throw your way, knowing that bankruptcy can discharge debt and give you a fresh start at any age can be a huge stress relief. To find out more about how bankruptcy can help seniors facing job losses and stop foreclosure , please contact a Dallas-Fort Worth bankruptcy attorney today.

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