Financial turmoil can affect anyone, regardless of his or her background, education or professional achievements. Fortunately, bankruptcy protection is available for any American consumer who is in serious financial turmoil, no matter how or why he or she became overwhelmed with debt. As the recent filing of one former Congressman demonstrates, bankruptcy protection is a tool that can provide a fresh financial start to whomever is in need in Arkansas or elsewhere.
The filing is partially due to expenses that Former Congressman Kerry Bentivolio incurred during his congressional campaign. In addition, just over $10,000 is owed to a credit union, and nearly $55,000 is owed for legal fees. Two mortgages are listed, totalling just under $100,000. Bentivolio was sued by a former campaign manager and ordered to pay $120,000 as part of the resulting judgment.
Bentivolio listed monthly income in the amount of $8,206. That includes unemployment benefits and his wife's income. Had he served a minimum of five years in Congress, he would have been eligible for pension benefits. His term, however, was just two years in duration.
Prior to his brief political career, Kerry Bentivolio worked as a teacher, a reindeer rancher and a part-time Santa Claus stand-in. In addition, he is also a military veteran. He made a statement to the press last year that his recent financial turmoil is the result of "what happens when a regular guy gets an opportunity to come to Congress." In seeking bankruptcy protection, Bentivolio may be looking for a return to the relatively calm days he enjoyed before taking office. Many Arkansas readers can relate to the financial stress that can accompany a significant career shift.
Source: mlive.com, "Former Congressman Kerry Bentivolio files for bankruptcy", Khalil Alhajal, Feb. 26, 2015