Anderson Bankruptcy Lawyer Reports on Olympian Struggles with Bankruptcy and Foreclosure

August 18, 2012 7:36 pm Published by

It’s my story, it’s part of me.  I’m not even embarrassed about it,” asserted Natalie Hawkins, mother of Olympian gold medalist Gabby Douglas. As a longtime debt consolidation lawyer offering bankruptcy services in Indiana, I only wish every client of the Zuckerberg bankruptcy law offices had as healthy an attitude when coping with financial troubles.

There are two aspects of Hawkins’ remarks about her bankruptcy that I want to point out to readers of Bankruptcy in Indiana. In saying, “I didn’t like to have to do it, but I’m glad there was something there for me to be able to protect my home”,  Hawkins was referring to the fact that she’d filed under Chapter 13 bankruptcy law, agreeing to a monthly debt repayment plan, as opposed to Chapter 7 bankruptcy..

My colleague the Columbus bankruptcy lawyer often asks clients the following question: “If you were not behind in your mortgage payments, could you keep up with your other bills?  If so, she goes on to tell the clients, filing bankruptcy in Indiana specifically under Chapter 13 could well save your home.

The second aspect I’d point out is that back in 2009, Natalie Hawkins went on long-term medical disability, and there was a six month period where she had almost no income coming in at all.
Every good bankruptcy attorney in Indiana would confirm that medical costs constitute a leading cause of bankruptcy.

It’s important to remember, too, that years of training for the Olympics put athletes’ families under financial strain even without any other problem factors. My colleague who is an Indiana bankruptcy lawyer in Richmond read in The Daily Beast, athletes can expect to spend more than $1000 a month to training facilities and trainers, plus bear costs for club memberships, equipment and clothing. Figure in travel costs and the lost opportunities to earn money through part time jobs, and it’s easy to see how Olympian families can get into a financial bind.

Dealing every single day, as I do, with people who may not be athletes, but who face financial problems that are not of their own making, I realize that there are people from every walk of life who end up needing help to stop foreclosure.  Those people may have been responsible with money all of their lives, but when a combination of negative events hit them all at once – job loss, divorce, illness in the family – they, like Natalie Hawkins, needed “Olympic” (effective and speedy) professional and affordable Indiana bankruptcy  help!

 

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This post was written by Mark Zuckerberg

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