Today, a father brought in his adult son who suffers from Bipolar Disorder. When he doesn’t take his medicine he irresponsibly uses credit cards without the ability to pay them.
We had a long and purposeful discussion amongst the three of us. I determined that the son was eligible for a chapter 7 bankruptcy because he had not filed for bankruptcy within the last 8 years, and his income was low.
I determined his risk level was minimal because there was no recent large usage; he had no assets in his name; had not transferred any assets, and was not anticipating any inheritance within the next six months.
The bigger problem, however, was how to prevent this from occurring again. I recommended that it was time for him to overcome his discomfort about being around others by returning to a part-time job in a field in which he had previously worked, and making a commitment that he would take responsibility for paying the second half of my legal fee: a little each month.
The most satisfying part of being a bankruptcy lawyer is not about Litigating, but rather it is being a Counselor.
Many years ago I had a client with a similar problem, but with 3 times the debt, and a lot of purchased jewelry. I made arrangements to turn the jewelry over to the Bankruptcy Trustee, and was able to obtain that valuable discharge for my client, giving her a “second chance” at a normal life.
Everyone has problems. The questions you must ask yourself are whether you want a change to your life and if you take the step of filing for Chapter 7 will you do things differently to avoid the same result.
A bankruptcy filing is really a chance to take back control of your own life from the roller coaster of getting caught in the Credit Card Trap.
Let us help you get your life back.
Paul Hollender, Staten Island’s Only Board-Certified Bankruptcy Lawyer. SuperLawyers selected for 15 years. Let us help you develop a strategy to take your life back.