Very few people in Summit are actually lucky enough to go through life without having experienced some degree of financial hardship. Many are prone to make the occasional poor choice when it comes to money. For others, simple bad luck befalls them. Yet what’s considered struggling for some could possibly be considered thriving to others. It typically all depends on one’s expenditures, coupled with his or her earning capacity. If and when times to get too rough, it’s not a bad thing to seek help.
Consider the case of former television star Nicole Eggert, who recently filed for Chapter 13 bankruptcy. On the surface, one may think that the over $1 million in assets that she claims, as well as the nearly $800 she has to live on after monthly expenditures is more than sufficient. But when compared to her stated salary of just over $15,000 per year, one can see how she might be low on funds. Throw into that mix the $5000 she claims to owe every month for managerial and childcare services, and it’s fairly clear to see why’s she’s struggling. With a Chapter 13 bankruptcy, there’s the possibility that she could keep her home after reconciling with her creditors.
When attempting to get out of debt, one is encouraged to do all that he or she can to make such a wish a reality. In Eggert’s case, this perseverance involved determination, as this is the third time she has attempted to seek bankruptcy protection. Her case had been dismissed twice before.
For those facing a similar situation to Eggert’s, a Chapter 13 bankruptcy may be their best option, as well. A bankruptcy attorney may be good source of information on this or any other debt relief option.
Source: Wetpaint “Baywatch Star Nicole Files for Bankruptcy – Report” Ryan Gajewski, Feb. 01, 2014