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SOUTH CAROLINA
BANKRUPTCY ATTORNEY

Poker star Erick Lindgren files for Chapter 7 bankruptcy

South Carolina poker players may know the name Erick Lindgren. The professional poker player was once at the top of his field, but is recently in the news for another reason. The poker champion, with more than $8.5 million in live tournament winnings, filed for Chapter 7 bankruptcy protection in 2012 after lengthy financial struggles.

Lindgren asserts that the base of his financial problems lies in a gambling addiction. While spectacularly proficient in manipulating the odds in his favor while playing poker, the star apparently did not have the luck required to stay on top of his sports betting addiction. As a result, he found himself in debt to the tune of more than $10 million and unable to repay his creditors.

Lindgren has completed a two week stay at a residential rehab facility to address his addiction issues. He tells reporters that he is trying to regain both financial stability and his credibility with those close to him. By filing for Chapter 7, he will have the breathing room necessary to gain control of his financial life. As for his gambling issues, the choices made during the coming months will dictate his path, both financially and personally.

As this case demonstrates, people fall into financial trouble for a wide variety of reasons. For some South Carolina residents, addiction issues exacerbate existing financial concerns. For others, the simple loss of a job can be sufficient to tip the scales toward financial devastation. No matter the course of events that led to a strained financial scenario, Chapter 7 bankruptcy can provide the chance to start anew and to shed a majority of consumer debt.

Source: OnlinePoker.net, "Erick Lindgren Battling Gambling Addiction And Bankruptcy," Jan. 9, 2013

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