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Bankruptcy Attorney Helps Atascosa County, Texas Elders Find Relief

Bankruptcy Attorney, Atascosa County, Texas

Have you been experiencing financial strain as you grow older in Atascosa County, Texas? Consider filing for financial relief from debts and creditors with the help of bankruptcy lawyer David Cain.

While Atascosa County remains relatively young, demographically speaking, there is an increasing financial burden being placed on older generations. For those who are even able to consider it, retirement offers little relief as Texans prepare to tackle increasingly expensive medical bills on limited fixed incomes.

San Antonio-based attorney David Cain has seen it happen time and time again. A job loss, difficult illness, or even a divorce can send someone spiraling into debt during an already difficult time. This can leave Texans in the hands of insistent creditors, harassed by debt collectors and unsure how to move forward.

Perhaps this is why there has been a steady rise in the number of Americans aged 50 and older filing for Chapter 7, 11, or 13 bankruptcies. Few older Texans are even willing to consider bankruptcy, however, but they should. There are a number of advantages to filing in the latter half of your life, especially if you work with an experienced bankruptcy lawyer like David Cain.

The Increasing Financial Burden Of Aging In Texas

In the greater San Antonio area, Atascosa County is already below average for income. With an economy based, historically, on the cattle industry, small businesses and the service sector were hit hard by the pandemic. Aging Texans were hit hardest, though, both by the pandemic and by growing medical costs in general.

It is one thing to lose your job in your 20s or 30s, but another thing entirely to be facing it in your late 40s or 50s. Worse still if the income you are losing is from your own business.

Yet the older generations seem less willing to contemplate bankruptcy even when the financial relief they could find might even come at a lower cost. Just ask Bankruptcy attorney David Cain, who has been helping Atascosa County residents find a fresh financial start for over 30 years.

Get Your Questions Answered - Call Me For Your Free, Phone Consultation | (210) 761-5002

Why Seek Bankruptcy In Your 50s Or 60s?

Bankruptcy Attorney, Atascosa County, Texas

It can be daunting to face deep debt and the possibility of bankruptcy when society expects you to be settled down and have everything “figured out.” But the realities of debt can come crashing down on anyone, and ignoring them only makes it worse, especially when the common sources of hesitation turn out to be false.

There are, in fact, a number of advantages to filing for Chapter 7, Chapter 11, or Chapter 13 bankruptcy later in life with the help of a lawyer like David Cain in Atascosa County.

Will I Lose Everything I Have Worked For In A Chapter 7 Bankruptcy?

One common fear shared by many not-so-young-anymore Texans in Atascosa dealing with aggressive creditors or crippling debt is the worry that they will lose everything they have worked hard to earn. When you have saved up to buy a home, car, and more, the last thing you want is to see them taken away by creditors.

This can make Texans hesitant to try filing for Chapter 7 bankruptcy, which involves the liquidation of assets to pay for some of their debts before the rest can be discharged (forgiven).

Fortunately, however, Texas law protects your core assets and property during Chapter 7 Bankruptcy. There are significant exemptions for your homestead, cars (one per adult member of the household) and even other personal property items (including jewelry). Perhaps most importantly, retirement accounts and pensions are also protected.

And since you are unlikely to need to borrow for any such investments in the future, any impact on your credit score will be easier to deal with.

Better still, filing for bankruptcy will actually protect you from creditor harassment and claims.

How Can A Bankruptcy Attorney Help Against Creditor Harassment?

Dealing with endless letters, emails, and phone calls from debt collection agencies and creditors is stressful at any age, but more stressful and shameful when your kids or family look up to you. They are especially brutal (and common) for Atascosa County residents dealing with job loss, a failing business, or a devastating illness.

Luckily, whether you are a small business owner filing for Chapter 11 Bankruptcy or a cancer survivor filing for Chapter 7 relief, your lawyer will be able to get you a bankruptcy creditor stay. This stops any procedures against you and halts all direct communication with creditors. Instead, they have to go through your attorney.

Get Your Questions Answered - Call Me For Your Free, Phone Consultation | (210) 761-5002

Bankruptcy Attorney, Atascosa County, Texas

Avoiding Foreclosure And Repossession In Atascosa County, Texas

Perhaps the greatest danger for middle-aged and older Texans facing deep debts is the danger of foreclosure and the repossession of their home. While younger residents of Atascosa County are more likely to be renters, older ones tend to have what little wealth they have been able to accumulate locked up in a property.

This means that having it reclaimed by the bank is twice as harmful; not only can you lose everything you have gathered and hope to pass on, but you can also lose the roof over your head. In the worst cases, this can even lead to homelessness.

Fortunately, bankruptcy lawyers like David Cain specialize in helping you keep your home, avoid foreclosure, or even halt and reverse repossessions. This can be done through Chapter 13 bankruptcy payment plans, bankruptcy stays, or other negotiated solutions that allow you to keep your home and wealth.

His ability to do so, however, is heavily dependent on the timing of the foreclosure procedure or repossession.

Stop Creditor Harassment And Keep Your Home With One Phone Call

Atascosa County residents dealing with financial distress, even in their 50s, 60s, and older, can obtain significant protections and relief with the help of The Cain Law Office and Texas bankruptcy lawyer David Cain.

If you are being threatened by creditors near San Antonio, harassed by Texas debt collecting agencies, or at risk of losing your Atascosa County home, you should reach out to a bankruptcy lawyer near you.

The earlier you do so, the more an experienced bankruptcy lawyer like David Cain will be able to do to protect your assets, ensure you keep your home, and help you find financial relief.

So do not wait, no matter your age, before it is too late to file for bankruptcy and its protections. Call (210) 761-5002 now to schedule a free consultation, or book one online as soon as possible.

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