Olympic Athletes and Bankruptcy

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At the Olympics, it became well-known that All-Around Olympic Gold medalist athlete Gabby Douglas’ mother had to file bankruptcy earlier this year. According to the New York Times, she had to do it not lose her house in Virginia. It is not all  Olympic dreams for Olympic Athletes and Bankruptcy.

You understand that it is hard enough sometimes to try and support your family on one income and not lose your house. It is compounded when you have to try and send your athlete son or daughter to an elite training facility so she can reach her dreams of being in the Olympics. I see every day families making sacrifices, even to their health, so that their kids have a shot at a better life. I admire them for that. Many times, as a bankruptcy attorney, the easiest thing I do is get you out of debt. The hardest thing I do is try and ensure you don’t get back into debt.

I see people who co-sign a car for a cousin who doesn’t pay. I see people who actually finance a house for a family member that ends up in foreclosure. I see people who think all they can take is cash jobs that provide don’t provide any worker’s compensation protection or unemployment let alone health insurance.  So it’s not just Olympic athletes and bankruptcy. It’s people like you and me.

But just like an athlete that trains hard every day, there generally is something rewarding out of, working hard every day. Is it to send your kids to a good school? Or provide good healthcare? Bankruptcy WILL get you out of debt. It will save your house. It will save your car. It will stop lawsuits and garnishments. But just like Olympic athletes and bankruptcy, you can break the cycle. You will get a FRESH START.

What you do with that Fresh Start is important though. Once Gabby starts doing yogurt and Wheaties commercials, she will be able to help provide for her mother and pay her back for all of her mom’s sacrifice. So make sure your sacrifices are worth it. Don’t get back into debt. Don’t make dumb decisions with your finances or credit.

If you need to get out of Debt and need a Fresh Start, give us a call.

If you want to make sure your sacrifices are worth, give us a call.

You can visit our website for more information about us and bankruptcy. You may also view our video with Bankruptcy Information.

Call us today at (713) 974-1151 to schedule a no-obligation consultation or feel free to email us at consumerlaw@busby-lee.com.

We provide bankruptcy services in the greater Houston metro area including the cities of Katy, Sugarland, Pearland, Friendswood, Clear Lake and Galveston. We also handle cases from The Woodlands, Spring and Tomball and cases in Baytown and Channelview.

We handle bankruptcy cases in all of these counties: Brazoria, Chambers, Galveston, Matagorda, Austin, Brazos, Colorado, Fayette, Fort Bend, Grimes, Harris, Madison, Montgomery, San Jacinto, Walker, Waller, Wharton