The case of Sarah Ferguson, aka “Fergie,” is an example of the point I have tried to make in prior blogs. According to Steven Swinford and Daniel Foggo of the Australian, “She [Fergie] now stands on the brink of bankruptcy as she struggles to pay off almost $1.7 million of debts. The extent of her desperation was exposed last weekend when she was filmed offering to introduce a reporter posing as a businessman access to Prince Andrew, her former husband, for a £500,000 ($853,000) fee.”

In other words, rather than face her economic crisis head on and take the necessary steps to resolve her problems, she compounded them by accepting a bribe. To make matters worse, the scandal has been all over the news for the past three weeks. If she had simply chosen to use the resources available to her and filed for economic protection through bankruptcy, she would have avoided a great deal of embarrassment. Many people seem to think that bankruptcy is the last option they should consider while having economic difficulties. But clearly, by waiting or trying to evade bankruptcy altogether, they end up in dire straits that could have otherwise been avoided.

Please contact me before this happens to you. I will answer your questions with no obligation. I am here to help. Kevin D. Heupel, Colorado Bankruptcy lawyer, 303-955-7570, COBankruptcyHelpEmail, free-consultation form.