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Robin Williams, Debt & Bankruptcy

Question: It's all over the news that actor Robin Williams committed suicide. I've read reports that money and depression were issues for him. Since I'm about to file bankruptcy his death has hit me pretty hard. I guess anyone can have too much debt and be scared of money problems.

I was wondering if filing bankruptcy may have helped him with his financial problems. You always hear about celebrities of all types like actors, singers, musicians, comedians, athletes and all the rest having financial problems. It's not just the little guys who have issues. I just wanted to comment on your blog.

Answer: We are all very upset to hear of Robin Williams' passing. He was an amazingly talented actor and comedian. At first it may seem quite surprising that he had severe financial problems. But millions of Americans from all walks of life suffer financial set-backs. Even Hollywood celebrities with decades-long careers can and often do have financial issues. High levels of debt (from credit cards, houses, loans, repossessions, medical bills, etc.) can be stressful. Divorce and job changes can add to that anxiety. Add depression, alcoholism and drug abuse to the financial stress and it is indeed a volatile mixture.

Bankruptcy can provide relief for financial stress. We see it every day. Before deciding to file bankruptcy people can be depressed, not sleeping well and lacking focus. We've seen bankruptcy offer people a fresh start to a new financial life.

Would filing bankruptcy have done anything for Robin Williams? Who knows? But if you, a friend or a family member is suffering from debt, it is something that should be considered. We've seen it help many people. And if somebody you know needs emotional or mental health assistance, there are many great organizations that can be helpful.

Debt is never something to be ashamed about. But it is something that should be and can be addressed.

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