How to Handle It During Your Retirement Years

It’s one thing to be carrying debt while you still have a full-time income. But it’s quite another to be facing mounting debt when you’re retired and living on a fixed income.

How to Pay Off Debt During Retirement

One popular option is for debt-ridden retirees to apply for a reverse mortgage. This loan is available to anyone 62 and older.

Credit Card Debt

If you’re desperately trying to pay off lar0ge credit card debt, you  need to transfer your balances to cards that offer zero percent  introductory rates for a specific number of months.

Mortgage Debt

With low interest rates, homeowners 62 and older should consider either refinancing or going with a reverse mortgage loan.

Medical Debt

If your insurance provider has denied your claim for a medical expense,  you have the right to appeal the decision. You can also call your state  health insurance assistance program.

The Verdict

Do what is best for you and your family's needs when it comes to paying off debt. You have to prioritize your retirement income.

Tap the link below to learn how to handle debt During Your Retirement 

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