Fort Lauderdale Bankruptcy Attorney | Todd Frankenthal

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You are here: Home / Senior Citizens And Bankruptcy

Senior Citizens And Bankruptcy

Bankruptcy can offer a fresh start for fixed income seniors.We have seen more seniors filing bankruptcy since the last recession. In many cases the fixed income of Todd’s senior clients has not been sufficient to pay their monthly expenses and credit card bills. In some of these cases Chapter 7 bankruptcy has been the answer.

Means Test Qualification

Since the Bankruptcy Code was amended by Congress in 2005 all Chapter 7 debtors must achieve Means Test Qualification to file. This test screens out high income filers. Fortunately, social security payments are not counted as income for Means Test purposes. In some cases we can suggest adjustments, such as timing, that assist in achieving qualification.

Cancel Debt

If you qualify for Chapter 7 the benefit to you can be very significant. Debtors can cancel large amounts of pre-bankruptcy debt in the Chapter 7 Discharge and get a fresh start! This includes: medical debt, hospital debt, credit card balances, personal loans, unsecured bank loans, and deficiency balances on mortgages and vehicle loans. Some types of debt can not be cancelled in Chapter 7. This includes certain types of tax debt, and alimony obligations. In most of our senior cases our clients are able to keep all of their assets. Even in bankruptcy you may keep your residence, retirement accounts (such as 401(k)s and IRAs), whole life insurance, annuities, some equity in your vehicle, and up to $ 5,000.00 of miscellaneous personal property ($ 10,000.00 in a joint case with your spouse).

We have experience helping senior citizens and encourage you to call Todd with your questions.

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Lawyer Todd Frankenthal | Featured Attorney Bankruptcy

The hiring of an attorney is an important decision that should not be based solely upon advertisements. Before you decide please ask us to send you free written information about our qualifications and experience.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

The information contained on this website is for informational purposes only, and does not provide legal advice on any particular matter. Every case and legal problem is different, and must be fully analyzed with the advice of legal counsel.

No attorney/client relationship is established through the use of this website. It can only be established through a written agreement signed by the client and this office.

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Ft Lauderdale | Bankruptcy
Law Offices of Todd S Frankenthal
1 E Broward Blvd Suite 700
Ft Lauderdale, FL 33301
Boca Raton | Bankruptcy
Law Offices of Todd S Frankenthal
150 East Palmetto Park Road, Suite 800
Boca Raton, FL 33432
West Palm Beach | Bankruptcy
Law Offices of Todd S Frankenthal
1645 Palm Beach Lakes Blvd, Suite 1200
West Palm Beach, FL 33401

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