- Products & Services
- Knowledge Base
NORCROSS, GA, March 27, 2013 /24-7PressRelease/ -- Judy Garland is commonly known and honored to all as the sweet young girl in The Wizard of Oz, but there were serious financial troubles she was dealing with behind the scenes of her career that not everyone knows about. The Knoxville bankruptcy lawyers at Clark & Washington discuss her story and what you can do to get your life in order if you find yourself in this position, too.
According to Garland's husband after her death in 1969, the Hollywood beauty had earned $10.8 million in her lifetime. However, she left a debt of $4 million and even had to move to England in order to avoid her creditors.
Being overworked as a child and as an adult by the entertainment world had led to her addiction to prescription drugs, which spiraled out of control to terminations of contracts. This led to heavy tax debts, and the failure of The Judy Garland Show added to her financial burdens. She owed several hundred thousand dollars to the IRS by the time she died of a drug overdose at the age of 47.
Garland filed for bankruptcy and lost her house, as well as other assets to the IRS. And even with all of that going on, other financial troubles continued and she was unable to cope. Had Garland received better legal advice and filed for bankruptcy much earlier than she did, she could have possibly avoided the large financial burden she left in her memory.
Why File for Bankruptcy?
Garland's situation is one that can happen to anyone. Failing businesses, raised credit card interest rates, layoffs, personal tragedies and high medical expenses can all contribute to financial plummet. Yet people are often afraid to file for bankruptcy. Bankruptcy is often associated with failure in their minds and the minds of their families. But the truth is that bankruptcy can be a fresh start, rather than a failure. With the help of a Knoxville bankruptcy lawyer from Clark & Washington, people can ditch the stigma and erase their debts to start over with a clean slate.
Why Hire a Bankruptcy Lawyer?
Bankruptcy law is complex, and good legal advice is necessary to find out what kind of bankruptcy is most suitable for you. There are four types of bankruptcy plans with varying terms, depending on the size and type of your credit and other factors. Chapter 7 and Chapter 13 are the most commonly used by individuals. Chapter 11 is used by troubled businesses, and Chapter 12 is specifically for farm owners. These are named after their respective chapters in the U.S. Bankruptcy Code.
A good Knoxville bankruptcy attorney can help you understand the difference between all of these types.
To start learning what may be best for you, find a Knoxville bankruptcy expert at http://www.knoxvillebankruptcyattorney.com.
About Clark & Washington:
Established in 1983, Clark & Washington is now one of the leading bankruptcy filers in the Southeast. They have locations in Georgia, Florida and Tennessee. Clark & Washington specializes in personal chapter seven and 13 bankruptcy. They offer honest, helpful legal advice to those experiencing financial hardships.
For more information, visit http://www.knoxvillebankruptcyattorney.com.
For all media inquiries, please contact:
Cardinal Web Solutions
# # #