New Jersey residents probably know David Cassidy best for his starring role on the hit 1970s television show "The Partridge Family." The 64-year-old entertainer has been popular for decades, but financial difficulties prompted him to file for Chapter 11 bankruptcy on Feb. 11 in Florida. The filing was announced by Cassidy's publicist via an email statement.
Court documents reveal that Cassidy has up to $10 million in debt and assets of up to $10 million. The singer's assets include residences in New York and Florida, and his debts include $39,000 owed on credit cards as well as a $292,598 personal line of credit. Cassidy also has significant legal bills. He owes $102,834 to attorneys and a $17,508 fee. Cassidy has been involved in personal injury and drunk driving cases, and he is currently embroiled in a legal dispute stemming from his part ownership of Thoroughbred racehorses.
The bankruptcy filing is the latest in a string of setbacks for Cassidy. The entertainer was charged with driving under the influence for the third time in January 2014 following a traffic stop in Los Angeles. He was subsequently sentenced to 90 days rehab and five years of probation. The DUI came a month before his wife of 23 years filed for divorce.
Many people struggle to make ends meet each month, and an illness or unexpected layoff can quickly make their situation unmanageable. An experienced bankruptcy attorney can explain the differences between the various debt relief options that are available to those finding it difficult to cope financially. An attorney could also show how filing for personal bankruptcy can put a swift end to harassment from creditors and debt collectors and offer the opportunity for a financial fresh start.
Source: Los Angeles Times, "'Partridge Family's' David Cassidy files for bankruptcy after divorce, rehab", Nardine Saad, Feb. 12, 2015