We have all seen those commercials on TV and advertisements online that remind us just how important our retirement years are.  While these commercials and advertisements may instill unnecessary fear in some people, it is certainly important to plan accordingly for your retirement years to ensure you are enjoying those years with sufficient income, and not continuing to pay off old debt that has followed you around for years.

One of the greatest attributes of bankruptcy is that you get to eliminate your debt in a rather short period of time.  Whether you choose Chapter 7 bankruptcy, which takes about six months to complete, or Chapter 13 bankruptcy, which may take approximately four years, your debt is being eliminated much quicker than it would without the protection of the bankruptcy court.  As such, regardless of how old you are, by choosing bankruptcy as a means of eliminating your debt, you are setting the scene to have a healthier financial situation by the time you plan to retire.

Saving for Retirement is Difficult When You Have Spiraling Debt

Many of us try to save money each paycheck by depositing at least some money into a savings account or investment plan.  This may prove to be successful for some, but for others, this money often must be used to pay bills.  This cycle of trying to save, and then immediately having to use this money to satisfy debt keeps consumers underwater and unable to get ahead on their debt. 

Bankruptcy is just one way to eliminate debt quickly in such a way that you can really begin to save money for your retirement years.  Depending on your financial situation, another type of debt-elimination may prove to be more successful, such as enrolling in a debt-management program (also known as credit counseling), settling your debt with your creditors, or negotiating revised payment plans with your creditors, among others. 

In order to truly know what method of debt-elimination is best for you, and likely to make your retirement years much better, you should consider how a bankruptcy attorney can thoroughly evaluate your situation.  Your future is important, and taking the time now to plan for the future will save you an immense amount of stress, and hopefully leave you debt-free so that you can do those things you have always wanted to do after retirement.

Contact Kansas City Bankruptcy Attorney Douglas Breyfogle Today to Schedule a Free Consultation

Filing for bankruptcy does not need to be a frightening process, and much of the stress associated with bankruptcy can be alleviated by working alongside an attorney.  If you have unpaid debt that is holding you back, it may be time to consider bankruptcy or some other debt-elimination tool to put a stop to creditor harassment and financial stress once and for all.  In order to determine what method of debt-elimination may be best for your particular financial situation, you should speak with a seasoned legal professional who handles debt-related matters on a regular basis.  With more than twenty years of experience representing Kansas City residents, Bankruptcy Attorney Douglas Breyfogle has the necessary skill, work ethic, and dedication to help you in any way he can.  While bankruptcy may be a good option for some clients, credit counseling may be a better option for others.  By speaking with Mr. Breyfogle, you will have a better understanding of what options will work best for you.  To schedule your free consultation to speak with Kansas City Bankruptcy Attorney Douglas Breyfogle, contact our office today by calling (913) 742-8700.