Many people have some misguided assumptions when they hear that a person is filing for bankruptcy protection. They think that a person has been irresponsible with their spending, recklessly racking up charges on credit cards or buying homes they cannot afford. These misconceptions can make some people hesitant to consider bankruptcy as an effective means of making a fresh financial start.

But the fact is that many people who are struggling financially are quite responsible with their finances. But it is no secret that the recession has devastated many families across New Jersey. Homes have gone into foreclosure, people have lost jobs and benefits and medical bills have been piling up for many people. On top of all this, many adults are going through a difficult and costly divorce which is causing further and unavoidable financial strain.

A recent news stories highlights the fact that any person, no matter how much money he or she has, can end up needing bankruptcy protection. TV actress Kelly Rutherford has enjoyed a lucrative career as the very wealthy matriarch on the show “Gossip Girl.” Off screen, however, Rutherford has reportedly been going through a messy and expensive child custody dispute with her ex.

Reports indicate that Rutherford has drained millions of dollars in savings in her battle to get her children back from her ex, who lives with their two children in France. For nearly four years, Rutherford has been embroiled in the international battle.

Rutherford says she has spent nearly all of savings on the battle. She had to give up her apartment and move in with a friend so she could continue fighting for custody. The contentious and emotional fight has left the actress struggling financially and it is reported that bankruptcy may be a very possible solution.

Bankruptcy is not just a process for people with credit card debt or for businesses that have made unsuccessful investments. Every person has a unique set of circumstances with which they are struggling. Bankruptcy may not be the best solution for every person, but it can certainly be effective for people in a variety of situations. Those who wish to learn more about bankruptcy and other debt-relief solutions can benefit from speaking with an attorney who understands bankruptcy law.

Source: Business Insider, “‘Gossip Girl’ Star Kelly Rutherford On The Brink Of Bankruptcy After Bitter Custody Fight,” Aly Weisman, April 30, 2013