Consider Bankruptcy Before Spending your Retirement
In the year 2003 he made a little over 300 hundred thousand dollars. At the moment he is on VA disability of 1200 a month and waiting on Social Security Disability.
During the last couple of years He has used up all retirement money to keep up with all the bills house, car, and credit cards. Now the money is gone and he is behind on the house and car and has not made a payment on the credit cards in several months.
He is going to file a chapter 13 Bankruptcy to help catch up on the house and put the car and credit cards in the plan. The payment for the 60,000 dollars in credit card debt, the three house payments, and the balance of the car worked out to be less than what the car payment alone was. He will not have to make his house payment till January and the same with the trustee’s payment.
Until his SSDI starts things will still be close his son is going to move in to help pay some of the expense.
Before you use up all retirement talk to a bankruptcy attorney to see what option are there to help you.
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