It is a difficult time we currently live in with the economy down and debt rising all over the world. For many Maryland individuals personal debt may be overwhelming, whether from credit cards, school loans, or housing loans. When overwhelmed by the debt, it is often easy to become overwhelmed by any process by which you can work towards solving your financial woes.
Bankruptcy can often be a daunting word. It can often carry with it a stigma, but can also provide you with some relief when trying to figure out how to relieve yourself of the mountain of debt you feel buried under. Perhaps that is why former Maryland State Delegate Tiffany Alston kept the fact that she declared bankruptcy prior to running for public office hidden for so long.
Ms. Alston filed for bankruptcy in May of 2010 while campaigning to be elected to the Maryland House of Delegates. Though winning the race in January 2011, other legal issues have resulted in her being stripped of her position. It is during these investigations that her bankruptcy became public knowledge. Instances like these highlight the fact that debt and bankruptcy can affect everyone in every position. Bankruptcy does not need to be feared though as it can be a way out of your mass of debt.
The bankruptcy process can be overwhelming and intimidating but there are resources out there to assist you. If you are feeling like your debt is suffocating your life and you can no longer afford your payments, please seek legal assistance. A practiced bankruptcy attorney can assist you in dealing with the IRS, debt collectors, and other areas affected by the debt you so desperately seek to be free of.
Source: Washington Post, “Tiffany Alston declared bankruptcy before running for office,” Paul Schwartzman, Dec. 30, 2012