What is a gray bankruptcy?
For the first time in a long time, the overall number of consumer bankruptcy filings increased last year, but gray bankruptcies have been increasing in number every year since 1991. A “gray bankruptcy” is the term for a bankruptcy filed by someone over the age of 65, and it’s a growing problem in America that needs more attention.
According to the National Consumer Law Center, people 65 and older have approximately four times as much credit card debt as people 25 and younger. This is not that surprising, if you think about it… Between increasing medical bills and the shrinking of social services, many older adults are experiencing increasing financial hardship.
It does not take much to send most Americans into a debt free-fall – unexpected job loss and medical bills are the two most common causes of bankruptcy cases. Once you have retired, you live on a fixed income, so a sudden large medical bill could result in financial disaster. Older Americans have had to turn to credit cards to simply make ends meet. (more…)
One of the most common reasons our clients file for bankruptcy is 
Unfortunately, bad things can happen to good people. The government created the federal bankruptcy laws for that very reason – to protect people who have lost control of their finances due to unforeseen circumstances. Some of the most common questions we hear from potential clients revolve around child support and alimony – and how a bankruptcy case will affect them.
Our bankruptcy attorneys have spent decades helping people in the Dallas area through difficult financial times. It does not take much to cause an uncontrollable downward spiral of debt – job loss, unexpected illness, severe injury, and even divorce can change your financial picture quickly.
When filing for bankruptcy in the Dallas area, whether under Chapter 7 or Chapter 13, it is crucial to understand how retirement accounts are treated, as this can significantly impact your financial planning and future security. Bankruptcy laws provide certain protections for retirement accounts to ensure that individuals have resources available for their retirement years, despite undergoing financial distress.
For many Americans, debt is a way of life. When that debt continues to pile up, many people think that 
Only 51% of Americans in a recent survey were confident that they could pay off their credit card bills this month – a big increase from the same time period last year. Every month, LendingTree conducts its Credit Card Confidence Index, and the 
Whether we are in a recession or not, it is not easy to earn enough to live comfortably in today’s world. You would be surprised to learn how many Dallas-area residents struggle on a monthly basis to simply make ends meed. Adding children or additional vehicle payments to the mix make a difficult situation even tougher. All it takes is one unexpected expense to send finances (and debt) spinning out of control.
Everyone knows that their credit score is important – but most Americans don’t understand how the scores are assessed or affected by their actions. Ideally, you want a credit score in the 700-800 range, but what does that really mean – and how do you get there?