Peace Of Mind Maybe The Most Valuable
Several years ago, I assisted a retired lady who received income of only about $800 per month from Social Security. The $800 was for everything, rent food utilities, bus fare, everything. The lady would have been homeless, but for the fact that she had her brother to share an apartment with.
The lady incurred about $20,000 on four credit cards, all issued by the same bank. Most all of the debt was for basic living expenses. When she could no longer pay, the creditor relentlessly harassed this poor lady with nasty phone calls from morning to night. I ask, why would a bank issue 4 credit cards, totaling over $20,000, to a lady with income of $800 per month.
She filed for Bankruptcy under Chapter 7 without the assistance of an attorney because she believed that she could not afford to hire one. Unfortunately, she failed to complete the credit counseling requirement prior to filing, and her case was dismissed.
She came to my office and we began work to file another Bankruptcy case. Meanwhile, the bank again harassed her daily. She would come into my office shaking because she was so upset from the harassment.
This was an honorable lady. She grew up in the aftermath of the Great Depression, so she wasn’t extravagant and she knew how to do without. It really bothered her that she could not pay the credit cards. I know she had struggled to pay it for a long time prior to filing for Bankruptcy. The whole process of being in debt was very hard on her.
We got the case together and filed another Chapter 7 Bankruptcy case. The case went smoothly and the credit card debt was eliminated.
Sometime after the Bankruptcy case was completed, the lady’s brother came into the office. Sadly, he reported that his sister had passed away. I am convinced that the stress of the debt collection contributed to her death. I wish she would have found my office sooner. I believe that had she filed for Bankruptcy earlier, she may still be alive.
Immediately upon the filing of a Bankruptcy case, all creditors stay from collection activity. Bankruptcy “gives to the honest but unfortunate debtor…a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.” Local Loan Co. v. Hunt, 292 U.S. 234, 244 (1934). If you or a loved one are being harassed by creditors or are faced with unmanageable debt, please call Las Vegas Bankruptcy Attorney Rodney K. Okano for help during regular business hours.