Interview: Debt From MLM Expenses

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Multi-level marketing organizations, or MLMs, make big promises to those who join up looking to make some cash. For many entrepreneurs, it’s a struggle to find financial success. This is even worse for those who paid a lot of money up-front for classes, supplies, and inventory. What options are available to those who have significant debt from MLM expenses?

In this interview, debt attorney David Shuster explains how Chapter 7 bankruptcy can help those struggling with credit card debt brought on by MLM spending.

He can be reached at 888-365-0921.

Topics covered in this interview:

  • Have you talked to people struggling with MLM debt?
  • Since most MLM debt involves credit cards, can you discharge it through bankruptcy?
  • How is MLM credit card like or unlike taking out a business loan?
  • When does credit card debt qualify for a discharge?
  • Does it matter how old the debt is?
  • How long does it take to complete the bankruptcy process?
  • Does it matter what sort of expenses are on the credit card?
  • Is it “fair” that some people are paying their debts while others are discharging it?
  • Do you notice a difference in people’s demeanor when they walk into your office versus after they talk to you?

Disclaimer: This video is for informational purposes only. In some states, this video may be deemed Attorney Advertising. The choice of lawyer is an important decision that should not be based solely on advertisements.

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