Original air date: April 30, 2013
Interview with Claude Lightfoot about Bankruptcy
Answering Viewer Questions about Bankruptcy with Claude Lightfoot
Extended Interview about Bankruptcy with Claude Lightfoot
Attorney Claude Lightfoot joins the show to help John and Shauna discuss the basics of Chapter 7 and Chapter 13 bankruptcy filings.
Claude Lightfoot talks about the reasons that most people find themselves in financial trouble and having to declare bankruptcy. By far the most common reason is medical expenses; people find themselves in trouble with an unexpected medical emergency that causes unmanageable bills to pile up quickly.
John, Shauna, and Claude also caution viewers about many of the “get out of debt” scams that are rampant in television commercials and on the internet. To truly get out of debt requires hard work and sacrifice, and there are no easy answers. To declare bankruptcy is also an expensive, lengthy, and emotional process for many people, and should not be seen as an “easy way out.”
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