Hoarding and Bankruptcy

The TV show “Hoarders” has exposed America to an entirely different kind of obsessive compulsive disorder. Hoarders are defined by their inability to part with objects and, as such, their habit of accumulating unnecessary items in their homes and cars. Since this condition causes individuals to purchase many objects, they often times find themselves deeply in debt. There is a point where the credit card bills become too high to pay and the inability to pay a mortgage threatens their ability to keep their homes.

Many hoarders will end up filing for bankruptcy due to their excessive spending. Filing for bankruptcy can be a tremendous relief for their financial woes. Chapter 7 bankruptcy can wipe out many debts and Chapter 13 bankruptcy can help a person pay off their debts. Many hoarders may have a difficult time recovering after bankruptcy as their spending may get out of control.

Many people do not realize that they have a hoarding problem. People with this condition stay at home whenever possible, cutting them off from reality. The most common problem exhibited by hoarders is their inability to discard objects. There can be rooms of stuff that will never be used again. Sometimes this is due to an attachment to all their things. In order to own all these things, they must purchase them. This can be extremely expensive. Someone who compulsively purchases objects is also showing signs of a form of obsessive compulsive disorder.

Recovery from hoarding will help in financial recovery through bankruptcy. Recovery from bankruptcy alone can be extremely difficult. Adding hording to the mix will amplify the difficulty of coming out of these debts.

For more information regarding hoarding and bankruptcy, visit the website of the Milwaukee bankruptcy attorneys of the DeLadurantey Law Office, LLC.

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