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Bankruptcy May Be Your Option

Politician seeks Chapter 13 protection after cancer, hurricane

No one is immune to financial difficulties. Even those people in Oklahoma who feel relatively financially secure can experience a series of setbacks that can leave them wondering how they will ever pay off their debt. One out-of-state politician claims that because of health issues and damage to her house from Hurricane Sandy, she and her husband are seeking to restructure their debt through Chapter 13 bankruptcy.

The woman claims that the first blow came in 2006 when she received a diagnosis of breast cancer that resulted in three surgeries. Because of complications from one of these surgeries, the recovery process was longer. Soon after her initial diagnosis, she learned that her mother was suffering from pancreatic cancer.

In addition to the cancer diagnoses, her husband was seriously injured in a workplace accident in 2012, preventing him from working. Beyond their illnesses and injuries, their home was reportedly damaged by Hurricane Sandy. Because she claims they were swimming in unmanageable debt, she and her husband sought bankruptcy protection.

Chapter 13 bankruptcy allows petitioners to restructure their debt into a payment plan, once approved by the court. The Brooklyn assemblywoman reports that she and her husband are committed to fulfilling their financial obligations as outlined in their court-approved plan. People in Oklahoma can find themselves suffering similarly as a result of unforeseen circumstances, such as the loss of a job or an illness. A bankruptcy attorney can help these people better understand the options that could ultimately help them manage their debt. Many find that bankruptcy is the most effective path to debt relief for their individual situations.

Source: New York Daily News, "Brooklyn assemblywoman blames Hurricane Sandy and health concerns for her bankruptcy", Kenneth Lovett, Aug. 2, 2016

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