Are you retiring and still having debts?

If you are near your retirement age, you must act now or else you will find yourself miserable during your “golden years” or retirement period.  Consider Bankruptcy as a great financial planning tool for those who are within a few years from retirement.  You must prepare a financial plan for a debt free retirement so that you will enjoy your golden years.  Ask yourself these questions:

1.     Will my retirement income be enough to cover my daily expenses and medical bills?

2.     Will I be carrying a mortgage that I cannot pay during my retirement?

3.     Will my long term care cost and medicines be covered by my pension?

4.     Will increases in cost of living and medicines be covered by my pension?

On the average, retirement income for seniors ranges from $800 to $1500 a month.  This income does not increase to cover the ever-increasing cost of living and medicines.  Long term care cost and medicines will not be covered by the monthly pensions of seniors if they do not have any savings or 401K pension plan.  There are seniors who are still carrying a mortgage and putting all their money on it in anticipation of an increase in value of real estate.  This is the worst kind of money management. 

It is unimaginable that you will be depending on your monthly pension and still owing a lot of debts.  The best time to plan for retirement is now.  If you have no way of supporting your daily expenses because of debts, then it is time to consider filing for Chapter 7 Bankruptcy.  You can discharge most of your unsecured debts by filing Chapter 7 Bankruptcy. Many people especially those close to retirement are stressed out because of all their financial obligations.  You do not have to put yourself in this very miserable situation because of debts.  You worked hard for so many years to have a comfortable retirement and you deserved it.  You can retire debt free if you want. There is nothing to be ashamed of in filing bankruptcy.  It is made into law to give people a chance to start fresh and be free from past obligations.  Many millionaires are also filing for bankruptcy for many reasons since bankruptcy law is created. 

Question:        Will the creditors take away my social security pension and retirement accounts if I file bankruptcy?

Answer:  No.  Social security checks and retirement accounts such as IRA and 401K are exempt from creditors up to $1.1 million.  Seniors who file bankruptcy will come with fresh start without seeing a big percentage of their retirement income to be paid to creditors. Any penny saved from paying creditors goes into your retirement.

Bankruptcy Basics

  1. Bankruptcy will actually improve your credit within one year because your unsecured debts are discharged.  Although the bankruptcy will be in your records for 10 years, not filing bankruptcy will make your credit even worse until most your debts are paid.
  2. If you are being sued by your creditors, most money judgment can be eliminated in bankruptcy.
  3. Collection actions continue and you can be sued if you are in debt settlement.
  4. Chapter 7 will eliminate all unsecured debts.  If you are near retirement age, you must eliminate most of your debts.

Note:       This is not a legal advice.  You need to speak to an Immigration Attorney to analyze your personal circumstances.  We offer free consultation on immigration matters.  If you have immigration problems the Law Offices of Crispin C. Lozano can help you find a solution before your problem gets worse, which could lead to deportation and family separation. 



You can still take advantage of the 2021 tax refunds for the self employed which include 20 days of sick leave and 60 days of family leave with a maximum refund of $32000.

California Real ID extended to 2025

The deadline to implement the Real ID has been extended to May 7, 2025.  That means riding in an airplane is still allowed for those without Real ID.

N-400 Application for Naturalization

The USCIS  is now giving priorities to application for naturalization .  The reason is obviously to allow qualified immigrants to vote in the coming midterm and presidential election.  There are cases when the waiting time is only six months compared to prior years.  Pres. Biden is encouraging all qualified to file for naturalization.  This is a rare opportunity that all qualified should take advantage of.  


We help our clients recover from employers’ unpaid minimum wage and overtime.  Undocumented workers are qualified to apply.


Our Law Firm successfully settled a car accident for $675.000. 


We also handle uncontested DIVORCE.


We can help you if you are under IRS audit, need a representation with IRS, need to reduce your tax liability or need to offer a payment plan to IRS,


For the month of November, 2022, we received approval from USCIS two naturalization applications, one  Fiancée visa petition,  two removals of condition on residence and two adjustment of status applications.

Note:       If you have immigration problems write us a letter and we will reply to you with no initial obligation.  The Law Offices of Crispin C. Lozano can help you find a solution before your problem gets worse, which could lead to deportation and family separation.  You may request a free consultation at one of our offices in Hayward or Cerritos, CA, or by phone at 1-877-456-9266., email at

Toll Free 1-877-4LOZANO for free consultation or Schedule an Appointment