Updated: Sep 5, 2018
ABC 7 offered some tips for senior citizens who may be struggling with debts as they reach retirement age. In this situation, you may want to consider the following ways to decrease stress over your finances:
Identify all expenses and create a workable budget.
Look for other ways to receive additional funds; however, make sure that other public benefits you get, like Social Security, are not affected.
For those who have several debts, you may want to consider paying at least the monthly minimum of the debt with the highest interest rate. Another option is to consolidate debts in order to achieve a more manageable monthly payment.
For those who are at a loss, pursuing help from an experienced attorney may help you weigh your options.
The Birmingham legal team of Greenway Bankruptcy Law, LLC, works for senior citizens and others who are overwhelmed by accumulating debts. Our skilled lawyers are committed to helping people regain stable financial footing. Find out how we may work for you today by calling (205) 324-4000.