Bankruptcy: Benefits For Any Age Group

Bankruptcy: Benefits For Any Age Group

Anyone regardless of their age who has suffered financial hardship may benefit from filing bankruptcy. Even during the pandemic, bankruptcy has remained a sensible solution for overcoming any personal financial decline caused by the COVID-19 pandemic. Bankruptcy has always been and still is an effective way to find relief from overwhelming debt.

Bankruptcy provides a fresh start. Every person has a unique set of circumstances. The seasoned attorneys at the Morrison Law Group have analyzed thousands of cases to determine whether bankruptcy fits a Utah resident’s financial situation. Despite changes caused by the pandemic, there is no reason for any Utah resident who needs a fresh start to delay filing bankruptcy in 2021.

*Bankruptcy may benefit anyone in their twenties and thirties

Many young people get their first credit card at the age of eighteen. For some, this may ultimately have negative results. Some college students graduate already several thousands of dollars in debt even before they have found employment. For those in their later twenties and early thirties, these debts may become overwhelming, especially for those starting families. As people get into their later thirties, they typically experience increasing expenses as their children transition from adolescence to the teen years. Burdensome debt can make it more difficult to cope with the responsibilities of parenting and decrease a person and family’s quality of life.

*Bankruptcy may benefit anyone in their forties or fifties

Those in their forties and fifties have had more than a few years to accumulate debt. This in itself may cause financial problems. Also, as individuals reach middle age, the costs of raising children continue to rise. Those who have college-age children need every dollar to invest in their children’s educations. Overwhelming debt can make planning and budgeting for college difficult.

*Bankruptcy may benefit anyone sixty or older

Those on the verge of retirement want as few financial burdens as possible since retirement may necessitate the reduction of monthly expenses from a decrease in monthly income. By this time in life, people have had decades to accumulate debt, which may require service well through retirement age to repay. Filing bankruptcy will provide anyone near retirement age with a fresh start. No burdensome debt to offset a debtor’s fixed income, thus allowing the debtor to enjoy retirement to the fullest.

The Morrison Law Group’s website contains everything you need to help anyone file a Chapter 7 or Chapter 13 bankruptcy case. The Morrison Law Group is open from 8:00 a.m. to 5:00 p.m. Monday through Friday. Our attorneys and staff are standing by and ready to help any Utah resident file a bankruptcy case from the comfort and safety of their home. Each of our locations in Ogden, Logan, Sandy, Orem, and St. George are set up so you can do everything from home. Call 801.456.9933 today to schedule a free consultation. We are Utah’s only statewide bankruptcy law firm and serve the residents of the counties of Weber, Cache, Salt Lake, Utah, Morgan, Davis, Washington, and surrounding areas.

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