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How Can Bankruptcy Help the Elderly Stop Paying Credit Card Debts?

Financial difficulties have been affecting people more and more, and that includes senior citizens. The need for elderly credit card debt relief is growing. When you look at the statistics, that’s no surprise. Nearly 4 million adults aged 65 and older had unpaid medical bills in 2020, according to the National Council on Aging. In 2001, only 24.2 percent of households with seniors carried credit card debt. By 2016, more than 34.2 percent of senior households had credit card debt. And the CO... CONTINUE READING

Debt Forgiveness for Seniors

There is an alarming trend that is growing in America, and it has been made worse by COVID-19 in 2020.  More and more older Americans and retirees are burdened with significant debt.  A recent study shows that individuals age 55 and older with debt grew from 54% in 1998 to 68% in 2019.  The research, conducted by the Employee Benefits Researc... CONTINUE READING

Maximize Your Savings on a Tight Budget

If you are living on a tight budget, you are probably struggling just to meet your expenses each month and may not even be thinking of putting aside money for savings.  You need to change this mindset, as many experts feel that if you wish to retire and still maintain your lifestyle, you should have enough savings to cover 70% of your pre-retirement income each year. Saving enough to retire may seem like an unattainable goal, and if you are not on track to save for retirement, you are not alon... CONTINUE READING

A Rule of Thumb for Retirement Savings

In order to live comfortably in retirement, we have to save during our working years.  What we don’t know is how much we need to save to have enough during retirement and how much we can withdraw from our savings so that we can enjoy our “golden years” while making sure our money lasts as long as we do. The skilled and seasoned Ohio debt-relief attorneys at Fesenmyer Cousino Weinzimmer understand that financial problems can happen to even th... CONTINUE READING

Financial Crimes Against the Elderly

The elderly population in America is growing, and with the increase comes more instances of seniors being exploited and abused. In addition to physical and emotional abuse, financial crimes against seniors are increasing with alarming frequency.  In 1998, the National Center on Elder Abuse estimated that nearly one-third of all elder abuse cases involved financial exploitation. In 2000, the U.S. Senate Special Committee on Aging reported $40 billion in losses to telemarketing fraud alone. The... CONTINUE READING

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    How Does Bankruptcy Affect Cosigners?

    Having a cosigner on a loan is a common occurrence for borrowers making a big purchase. But how does bankruptcy affect cosigners? Cosigners could be at risk for paying back a loan if the borrower declares bankruptcy. There are, however, many factors at stake. If you’re cosigning a loan, underst...