Securities Fraud Lawyers Blog
While he once had a 10-bedroom mansion on Palm Island and a 2007 Bugatti Veyron worth $1.6 million, hip hop producer and musician Scott Storch is no longer the big spender he used to be. Storch filed for Chapter 7 bankruptcy in June 2015 and cited his current personal assets at $3,600.
Storch filed for protection under Chapter 7 in Florida, and this is not his first brush with financial trouble as the man filed for Chapter 13 bankruptcy in 2009 while going to rehab in the same year. At the time, he spent an estimated $30 million in three years. While Storch worked with famous artists like Beyonce and Snoop Dog, his spending habits and cocaine addiction have reportedly left him $4.4 million in debt.
As this story shows, even those who are rich and successful can have problems that lead to debts. Anyone might find themselves facing repossessions or threats from creditors while not knowing how to act. A Chapter 7 attorney in Tampa can advise you about your options when considering filing for bankruptcy.
With Chapter 7, you may be able to find relief from unsecured debts like:
- Credit Card Bills
- Medical Bills
- Past Due Utility Bills
- Lease Agreements
- Repossession Deficiency Balances
The debts that can be discharged vary and sometimes depend on the circumstances involved, so an attorney would be best suited to helping you find out how much debt could be cleared through bankruptcy. Whether bankruptcy is best for you or there is another option, contact us so that we can assist you when you want to find a solution to your debt.