September 5, 2017

We previously posted a blog listing the names of famous bankrupts – this time we are listing “not so famous bankrupts” (if the names listed sound like someone you know it is purely coincidence we just made it up).

Julie Wong – Waitress aged 29 – credit cards & student loans totaling $62,000- cause of insolvency: underemployment and high educational costs

Dr. Bob Splotnick – Physician aged 46 – lines of credit & credit cards totaling $840,000 – cause of insolvency: too much access to credit/debt received advice from his private banker

Margaret Evans – Pensioner aged 82 – credit cards totaling $35,000 – cause of insolvency: easy access to credit/debt from her regular bank

Joseph Conko – Bricklayer aged 43 – loans, income tax debt, credit cards totaling $85,000 – cause of insolvency: periods of unemployment & irregular income.

Amy Pinhero – Welfare recipient, single mother aged 33 – rent arrears, credit cards, utility bills totaling $11,000 – cause of insolvency: low income (poverty) marriage breakdown

Richard Heinzman – Welder aged 51 – car loan in default, mortgage and property tax arrears, credit cards, loans, lines of credit totaling $465,000 including the mortgage and car loan – cause of insolvency: plant closure, after 32 years, lack of employment.

Think about it, many people you know may have been bankrupt or may be considering it – each has their own reasons that reflect their own life’s circumstances. The one common thread is “having too much debt”.

If you need to talk about your situation call us for a free conversation and find out if a bankruptcy or proposal is right for you.