On behalf of Law Offices of Mark M. Kratter, LLC on June 07, 2012
Filing for bankruptcy in Connecticut is a decision not easily reached for most people. However, when faced with overwhelming debts and the potential of losing everything you own, sometimes bankruptcy is the best way to find relief. Filing for bankruptcy seemed to be the best decision for Jamal Lewis, a former professional football player.
Lewis has filed for Chapter 11 bankruptcy, claiming he is over $10.5 million in debt. Court papers report he is self-employed and earns $35,000 per month. He has listed almost $14.5 million in assets but also has many creditors.
Lewis is one of several NFL players to file a lawsuit against the league for health issues related to concussions suffered while playing football. He says he suffers from memory loss, nausea, sleeplessness, sensitivity to light and headaches directly related to his time in the NFL. Lewis is only 32 years old but claims he is suffering long-term effects from being repeatedly hit in the head.
Whether his health problems are linked to his filing for bankruptcy are unknown, but the symptoms he claims may very well have affected his ability to bring in a steady income. Filing for bankruptcy was likely not an easy decision for him, but it appeared to be the one that made the most sense for his situation. Connecticut residents who own property or businesses and who may be struggling with debt may want to consider the option of bankruptcy protection. It could allow a reorganization of financial obligations or even completely wipe out some debt, which could help conquer ongoing financial headaches and lay the groundwork to regain financial freedom.
Source: Cleveland.com, "Former Browns' running back Jamal Lewis files for bankruptcy," May 28, 2012
