In this day and age, retirees are living longer and longer and therefore need to rely on their retirement incomes for a lot longer. For many people, every penny counts as they try and enjoy their retirement years. Still, for some, enjoying retirement is difficult because of overwhelming debt. This could be credit card debt or it could be the result of large medical expenses. In any cases, retired individuals may be tempted to pay their debt with their retirement income. This can put them in a difficult financial situation as they eat up their savings.

However, Tennessee residents should know that their retirement savings has protection in certain situations. If people choose to file bankruptcy, certain exemptions help to keep the money safe from creditors. By filing for bankruptcy, therefore, people can get the debt relief they need while safeguarding their only source of income.

Our law firm has years of experience helping retirees protect their retirement. In particular, laws are in place to help various income sources including veterans benefits, old age assistance, social security payments, workers’ compensation income and traditional retirement accounts — including pensions and 401(k)s.

For seniors that need debt relief, we can help answer your questions about your retirement. We can determine if state or federal laws protect your income from creditors. With our help, people can learn all their options and which work best for them. We can stop harassing phone calls, prevent wage garnishment and take other measures to help you get relief from creditors. With this relief, people will be free to rely on their hard earned savings without the burden of extra debt.