Rapper files for Chapter 11 bankruptcy
In Florida, it is all too easy to fall into debt. You may have planned carefully for your future, but an unexpected event can catch you off guard. All of a sudden, you may find that you do not have enough to make ends meet. You might decide to put some of the costs on a credit card, but even this can become a problem, as the interest piles on, causing your debt to steadily grow. Before you know it, your debts could seem insurmountable and you may wonder how to move forward with your life.
It can happen to anyone, as one well-known rapper has discovered recently, after accumulating debts adding up to be worth millions of dollars. This allegedly includes $64,909 of credit card debt, owed to American Express. The rapper has since filed for Chapter 11 bankruptcy.
While his filing occurred in Connecticut, his situation is one that resonates with people throughout the United States, including Florida. No matter who you are, it can be extremely difficult to clear your debts. Furthermore, the worse they get, the faster the situation deteriorates. As such, it is important to take action as quickly as possible to get the situation under control.
If you are struggling with credit card debt or you are worried that your financial situation is getting out of control, you may benefit from the advice and support of an lawyer. No matter how dire your situation may seem, there is always hope and your lawyer may be able to suggest the best ways to begin working your way out of debt. With the right guidance, you can begin to put your debts behind you and look toward a more financially stable future.
Source: TV Newsroom, “Cent: I needed protection,” July 17, 2015