It is a common occurrence in my practice. An elderly couple, overwhelmed by credit card debt and dependent on a set income, ask to meet with me for a free bankruptcy consultation. For them, there is no light at the end of their dark, financial tunnel. They feel as if time is running out.
Bankruptcy. Sometimes the last resort is the best resort. There is a light at the end of everyone's tunnel. For example, a retirement pension/401K or IRA cannot be seized in a bankruptcy. Social security is also untouchable, as is a person's home.