We tend to think of credit card debt as being a problem for younger generations but today more and more senior citizens are finding themselves saddled with incredibly high credit card debts. And this very high credit card debt is causing many senior citizens to file for bankruptcy, reports an New York Estate Lawyer. It is a sad trend, one that is slowly and quietly sweeping the nation. Unlike many younger Americans, who may use a credit card as a means to live a high lifestyle because they are not used to the responsibility that high credit limits carry, older senior citizens in America are using their credit cards to simply survive, notes an New York Estate Lawyer. These senior citizens have trouble making ends meet and are too ashamed to ask friends and relatives for help, says an New York Estate Lawyer. As such, they compile very very high credit card debts.
Sadly and tragically, the inevitable end for many of these senior citizens is bankruptcy. After maxing out their credit cards they find themselves with too much debt and not enough income, forcing many to file bankruptcy, reports an New York Estate Lawyer. A lifetime of work gone in a few years. Many senior citizens face a myriad of complex problems: they often have high medical expenses, children and grandchildren to provide for, and saddest of all: they do not have the time necessary to climb out of debt. All too often they reach a point where they simply cannot work any longer.
Proper estate planning can help head off many financial woes people face. Contact a New York Estate Attorney today to see what you can do to prepare for tomorrow.
The law offices of Stephen Bilkis & Associates has caring New York Probate Lawyers that can help you plan your estate. Our New York Probate Lawyers can help you probate an estate, write a will or set up a trust. We have convenient offices in New York City, Brooklyn, Queens, Bronx, Suffolk and Nassau County. We want to help you through what may be a difficult time with as little problems as possible and offer a free consultation at 1-800-NYNY-LAW (1-800-696-9529). Call us today to take advantage of this free consultation and speak to a New York Probate Lawyer from our firm.