New Jersey Bankruptcy Lawyer

Though our economy has recovered somewhat from the economic meltdown of 2008-2009, many people still face financial difficulties. This fact presents some special problems for retired people or those approaching retirement. Many people have had to take pay cuts in order to find work. Others still have not recouped the losses in their investments and retirement accounts.

What does this mean for people who are ready to retire or those already retired? Will they have enough to live on? What will happen to their Social Security income?

The good news for people in this situation is that Social Security income cannot be taken in a bankruptcy. It is exempt and completely out of reach of creditors. In the same way, retirement accounts such as 401(k) accounts, IRAs and defined benefit pension income is also exempt, though there is a cap of $1,245,475 for IRA accounts.

Experienced New Jersey Bankruptcy Law Firm

Monmouth County bankruptcy attorney William H. Oliver has helped many senior citizens deal with financial hardship. Mr. Oliver understands the many provisions of the bankruptcy laws that can protect assets and income and lift heavy debt burdens. When our firm represents you, we will use our knowledge and experience to protect your assets and reduce your debts as much as possible.

The Income And Assets Of Seniors Is Protected

The bankruptcy laws provide for exemptions that can put your income and assets beyond the reach of creditors. In both Chapter 7 and Chapter 13 bankruptcy, Social Security income cannot be taken in satisfaction of debts. In the same way, veterans benefits and tax-exempt retirement assets cannot be taken from you.

From our offices in Neptune and Toms River, we provide results-oriented bankruptcy representation for people throughout central New Jersey. Let us guide you to a brighter financial future.

Contact A Lawyer

For a free consultation about debt relief, contact William H. Oliver, Jr. & Associates.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.