A not-so-funny situation
It has just become public knowledge that an individual named David Adkins filed for bankruptcy on December 11, 2013. “So what,” you say. Well, other than maybe his family members and close friends, nobody knows this gentleman by the name of David Adkins. They know him as “Sinbad.” Yes, the famous comedian and movie star had to file for bankruptcy. Sinbad apparently owes the IRS somewhere in the neighborhood of $8.5 million in tax debts. It seems the IRS did not think that was very funny and came after the comedian with an exerted collection effort. In response, Mr. Adkins declared bankruptcy to protect his assets.
No one is immune to debt debacles
I enjoy celebrity gossip as much as the next person, but that isn’t the reason that I am sharing this information. I am sharing it as a reminder to all who are facing debt problems that they just can’t seem to get a handle on. The reminder is that no matter how much money you make, no matter how much power you wield, and no matter how well you manage your finances, debt problems can crop up quickly and they can come with hardly any advance warning. Job loss, medical problems, or a turn in the market can take what would otherwise be an extremely manageable debt load and make it a crushing burden.
Put your debt problems in our hands
I don’t know the circumstances behind Sinbad’s debt problems. I do know that it can happen to anyone, and that you shouldn’t feel bad about it. My office has represented famous athletes, television personalities, financial planners, and other attorneys. All of these individuals had their own story about how they got into unmanageable debt and much of the time the circumstances that led to it were beyond their control.
So remember, no matter who you are, debt problems are nothing to be ashamed about. What’s a shame is not taking the bull by the horns as soon as it becomes an issue and contacting someone who can help. My office is that someone, and we would be more than willing to help you in your in your time of need.