Some people might think that severe debt-related problems resulting in fundamental and sometimes wrenching life changes are confined almost exclusively to people who live check to check.
The many gripping tales about bankruptcy and foreclosure that have routinely garnered media headlines in Florida and nationally since the so-called Great Recession took hold a few years past do not in fact typically feature truly well-heeled individuals and families.
Instead, they invariably seem to focus on more “common” persons and families who have suffered a job loss, who have fallen underwater on student or credit card debt, or who have suffered an unexpected illness and been slapped with an insurmountable amount of medical bills.
Although that may spell the typical profile in a debt-related media story, there is always someone like Daunte Culpepper who emerges to dispel the myth that extreme financial difficulty is confined to one or a limited social/economic class.
While Culpepper’s current wealth is not immediately known, it is safe to say that the former Florida collegiate and pro football star quarterback certainly was wealthy. At one point, he signed a $102 million contract in the National Football League.
Notwithstanding that, Culpepper joined a legion of other Americans when he recently lost his Broward County home, a nearly 10,000-square-foot manor he purchased for $3.67 million in 2006.
Culpepper’s story is flatly illustrative for conveying this instructive point: Financial difficulties can happen to anybody. The number of Floridians and persons elsewhere across the country who have been challenged by banks and other lenders on mortgage and other home matters has been in the millions in recent years.
Many of those persons have learned that doing nothing, or acting tardily in response to lender communications, was the worst possible response.
Others have been more fortunate by acting with dispatch and taking steps to protect their assets and property through securing strong and knowledgeable representation from a proven debt-relief attorney.
An experienced Florida bankruptcy lawyer can provide candid and confidential advice on any debt-related matter.
Source: South Florida Business Journal, “Former Miami Dolphins, Minnesota Vikings quarterback Daunte Culpepper loses home,” Brian Bandell, July 16, 2013