I’m in Big Debt Because of My Concussion

Question:

Dear Steve,

Had a major concussion 5 years ago, thought I would never be the same. Looked up brain retraining and did it with great success, dizziness is gone, tinnitus is gone, taste buds back working again, very upbeat, only drawbacks, was I went into a manic spending spree. and slept every other night.

To fix this situation I looked at consolidation,( I also am out of work since the first of 2018) I think bankruptcy is my only answer

Is there any better solutions to this mess Steve

Margaret

Answer:

Dear Margaret,

Bankruptcy sounds like a good solution given the underlying issues which appear to have now been dealt with.

However, I would suggest you wait to do anything until you are employed again or at least you’ve landed a job. There may be some expenses in the meantime that would be beneficial to include in your fresh start through bankruptcy.

Don’t look at bankruptcy as being a horrible outcome here. It is, in fact, a legal solution to unmanageable financial issues. Bankruptcy allows someone who has been struggling, often through no fault of their own, a chance at doing better moving forward.

The vast majority of people that file bankruptcy learn from the experience and can do better financially. A surprising reality is “Those That File Bankruptcy Do Better Than Those That Don’t.

You’ve lived through a traumatic brain injury, difficult side-effects, and overcome a mental health issue.

It’s probably time to open a new door and start planning to do better financially instead of trying to repair a broken past.

find a good local bankruptcy attorney and have a free discussion about what bankruptcy would mean for you. Bankruptcy is the fastest way to get a fresh start for the least amount of money.

find a good local bankruptcy attorney and have a free discussion about what bankruptcy would mean for you. Bankruptcy is the fastest way to get a fresh start for the least amount of money.

Steve Rhode
Get Out of Debt GuyTwitter, G+, Facebook

If you have a credit or debt question you’d like to ask, just click here and ask away.

This article by Steve Rhode first appeared on Get Out of Debt Guy and was distributed by the Personal Finance Syndication Network.