Question:
Dear Steve,
I have been in debt before and got out so I am upset with myself for this.
I had a major concussion 3 years ago, and I went through brain retraining 2017/2018 and my
brain came alive and I was happy and went on a major spending spree, (when I know better) now I have to pay the piper I am 30,00 in debt
Can I get out of my debt by a medical excuse? uncontrolled spending after a concussion fix?
Margaret
Answer:
Dear Margaret,
Mental issues are not an excuse for consumer debt forgiveness. However, they may be for federal student loan forgiveness if you were totally and permanently disabled because of it.
Your situation sounds more like that experienced by people with bipolar issues wherein the manic phase they run out and overspend.
You can certainly get a fresh start by filing for consumer bankruptcy. In a Chapter 7 bankruptcy, your debt would be discharged in about 90 days and it is the least expensive way to pay for debt relief.
The post-concussion spending isn’t an excuse but it is the probable cause of your debt spree.
If you are facing a situation where the $30,000 of debt is not sustainable or it limits your ability to build an emergency fund or save for retirement, then eliminating your debt through bankruptcy is a legal option at hand.
You can 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.
You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
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Asked debt concussion question.
Answered.