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Lindsay Lohan in some need of debt relief

When one thinks of movie stars, it is not typically because they are facing foreclosure and loads of debt. However, it seems one big star may soon be needing some debt relief of her own.

As many Chattanooga residents may know, Lindsay Lohan has been in the news lately for many legal issues, and it appears there's one more to add to the list. She and her mother were just recently served with a foreclosure notice for the home in which they have been living. Her mother recently borrowed $40,000 from her daughter in order to try to resolve the problem with the house, since it seems that her mother had fallen behind on payments. In addition to these problems, however, Lohan is also facing issues over an allegedly unpaid tax bill and allegations about a 2012 car crash in which Lohan allegedly lied to the police.

Despite her situation, it is likely that Lohan will probably be able to work out these financial challenges since she has rather straightforward sources of income. However, for most people trying to prevent foreclosure and facing other debts, such as spousal support, medical bills and credit card debt, debt relief is often difficult to come by. For those people, one of the most simple methods for a fresh start is filing for bankruptcy. That way, most if not all of the debt is discharged and often may stop foreclosure proceedings, as well, thus allowing the home to be kept.

Seeking out assistance with debt relief is often the first step needed to eliminate debt. After that, as long as the consumer is financially responsible, a fresh start can be a reality.

Source: ABC 10 News, "Lindsay Lohan served with foreclosure notice," Feb. 9, 2013

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Kenneth C. Rannick, P.C.
4416 Brainerd Road
Chattanooga, TN 37411

Phone: 423-624-4002
Toll Free: 800-257-7594
Fax: 423-624-0509
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