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Bankruptcy May Be Your Option

Politician seeks Chapter 13 bankruptcy protection

People in Oklahoma often live under the impression that most politicians have few financial worries. However, any person -- regardless of their desired occupation -- can struggle with overwhelming debt. In fact, one man in another state who recently lost a congressional election has filed another request seeking Chapter 13 bankruptcy protection after his first case was dismissed.

The initial request was filed in May 2016. However, a judge dismissed it in September, ruling that the man had not provided necessary documents. Court records indicate that the man has $335,000 in debt to two different creditors. The debt is secured by two properties valued at $465,000.

He refiled his petition in late November. However, he reportedly failed to provide proof that he had undergone credit counseling -- a necessary requirement of a successful bankruptcy petition -- prompting the judge in the case to question why the case should not be again dismissed. This filing follows the man's loss in an out-of-state congressional race.

Financial struggles can occur at all stages of life for a variety of different reasons, prompting many people in Oklahoma to seek Chapter 13 bankruptcy protection to help them restructure their debt in order to pay it off. While some people may decide to attempt to file on their own behalf, having an experienced attorney guide them through the process can help them avoid lengthy delays. Someone with experience regarding such proceedings can help ensure that all necessary paperwork is provided and steps completed, potentially preventing the dismissal of their request on procedural matters.

Source: courierpostonline.com, "Former candidate declares bankruptcy", Jim Walsh, Dec. 7, 2016

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