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.
A popular option for retirees is a Reverse mortgage that allows homeowners to tap into their equity in the form of one lump sum payment or monthly disbursements.
If you’re trying to pay off credit card debt, you need to transfer your balances to cards that offer zero percent introductory rates for a specific number of months.
If you’ve already hit your retirement years and still carrying a mortgage, you might consider selling your home and moving into something much smaller.
You can take some steps to fight off medical debt. You can call your state health insurance assistance program to find out what options are available to you.