Are you overwhelmed with debt you can’t pay? Are you considering liquidating your retirement accounts to help you get out of the hole?
Stop now and seek legal advice.
Whether you’ve lost your job or your small business is failing, whatever your situation is, liquidating your retirement accounts to help pay your debt is not the answer. I’ve seen these situations reveal themselves in my office first-hand. I’ve had clients liquidate their entire IRA, 401K, etc, and still have bills they cannot pay.
These clients end up filing for bankruptcy when they could’ve simply done so in the first place. I tell those clients if they had just come in to talk to me for an hour (for free), there’s a good chance I could’ve saved their entire six-figure retirement account and gotten rid of their debt at the same time.
Almost all retirement accounts are completely exempt in a bankruptcy. This means you can pay off or discharge your debt while having those retirement accounts for your future.
Bankruptcy is nothing to be afraid of. As a law office with a liquidation lawyer Memphis, TN turns to, we will let you know what your best options may be to resolve your debt. Though the decision to file may not be easy, with the experienced bankruptcy attorneys at Darrell Castle & Associates, the process certainly is. Not only that, but this is your chance for a clean financial slate and an opportunity to create a strong foundation by re-establishing and rebuilding your credit the right way.
Does the thought of rebuilding your credit intimidate you? Well, don’t let it. We have access to a 14-week program with 7 steps to a 720 credit score. It teaches you how to rebuild your credit the right way. This program is free for our clients.
We care about our clients and want to see them live a debt-free life with retirement accounts to enjoy in the future. So, don’t liquidate your retirement accounts, or any assets at all, without contacting us first. Perhaps we can save you some money.
If you have any questions or have been considering filing a bankruptcy, please contact us by filling out the “Get in Touch” form below, or call us at (901) 327-2100.