Season 4-Episode 1-Should YOU File Bankruptcy?

🎙️ Episode Title: Should You File Bankruptcy?
🗓️ Season 4, Episode 1 | Guest: Attorney Shekinah Melbourne

In this powerful season opener, the Money Sex Gen X crew dives into a topic too many avoid — bankruptcy. Eric and Big Stew are joined by Shakeena Melbourne, principal attorney at Upton Law PLLC, who brings game-changing insights on how bankruptcy works, who qualifies, and how it can actually reset your finances instead of ruining them.

👩🏽‍⚖️ Attorney Melbourne breaks down:

• Chapter 7 vs. Chapter 13 (and who qualifies)
• Why filing can improve your credit score
• How high-income earners and real estate investors use bankruptcy strategically
• The mental and emotional stigma behind financial failure — and how to move past it

💡 Real stories, raw truth, and a few unexpected laughs (including how Shekinah was there when Eric met his wife!). Whether you're in debt or just building financial awareness, this episode is packed with the tools, truths, and transparency Gen X needs.

📞 Guest Contact: UptonLawPLLC.com
🛒 Merch: moneysexgenxpodcast.com

🎶 Featured Artist of the Week: Gino Pacino ft. King Chaz – “Better Man” via MusicSPOOL.com

For more episodes of the Money Sex Gen X Podcast, go to https://moneysexgenx.buzzsprout.com

MusicsPool.com Artist of the week http://www.musicspool.com

Eric McLoyd - http://www.ericmcloyd.com
Big Stew - http://www.scottsteward.com

Purchase our merch at https://www.moneysexgenxpodcast.com

Transcript

Copy Transcript Copied

🎙️ Money Sex Gen X – Season 4, Episode 1: “Should You File Bankruptcy?”

0:45 – Intro
Eric: “Good morning, Chicago and the rest of the world…”
Big Stew joins as co-host. They reflect on launching Season 4 and celebrate their podcast’s 1-year anniversary (April 5th).

3:00 – MSG Merch Plug
Eric & Stew: Promote their merchandise site and discuss how proceeds go back into improving the show.

4:39 – Topic Intro: Should You File Bankruptcy?
Eric introduces the theme. Guest: Attorney Shekinah Melbourne, founder of Upton Law PLLC.

5:26 – Guest Bio
Eric: Reads Shekinah’s corporate credentials.
Shekinah: “I’m an attorney on a mission… helping people shed the past to claim their future.”

6:57 – Personal Mission & Services
Shekinah: Explains she helps with bankruptcy, expungement, and business strategy for under-resourced communities.

8:08 – Background & Roots
Shekinah: Born in L.A., raised in a Jamaican family, now based in Detroit.

10:05 – How They Met
Eric shares how he met Shekinah at a corporate real estate firm in 2012. They reflect on their professional paths and community involvement (Greater Englewood CDC).

12:19 – Stew’s Experience with Bankruptcy
Big Stew: Never filed, unsure of benefits. Curious about student loan relief and credit impact.

13:02 – Eric’s Bankruptcy Story
Eric: Filed at 18 due to a traumatic car accident and a recommendation from his attorney to protect insurance proceeds.

16:11 – Shekinah’s Journey into Bankruptcy Law
She’s practiced bankruptcy for 5 years, started on the creditor side, then transitioned to help individuals, especially Black clients.

19:21 – Actual Factuals Segment
Definition: Bankruptcy is a legal process for people/businesses unable to repay debts.
Shekinah: Clarifies there are more than the 6 common chapters (7, 11, 13, etc.) – bankruptcy law has 20+ “chapters.”

22:57 – Bankruptcy as a Legal Strategy
Shekinah: Bankruptcy is a legal puzzle that few attorneys master. It can reset a person’s financial life if understood and applied correctly.

26:05 – Credit Score & Student Loans
Shekinah: Some see their credit scores improve after filing. Student loans can be discharged in rare bankruptcy cases under high scrutiny.

29:32 – Filing Chapters 7 vs 13: Income Threshold

• Over ~$65K/year → likely Chapter 13 (partial repayment)
• Under ~$65K/year → possibly Chapter 7 (debt wiped)
• Depends on monthly disposable income (post-necessities)

36:12 – Bankruptcy and Real Estate
Shekinah: If you have high equity in your home or rental properties, Chapter 13 might be better to protect assets.

41:08 – Chapter 11 & Business Strategy
She explains how Trump and 50 Cent used Chapter 11 for businesses, not personal bankruptcies, to restructure and protect assets.

44:47 – Mental Barriers to Filing
Shekinah: Stigma and misinformation (e.g., "Johnny lost his house") often prevent people from pursuing bankruptcy even when it's the best option.

47:55 – You’re in the Driver’s Seat
Bankruptcy gives you control: keep or release your house, car, or debts. It’s about financial empowerment.

50:28 – Bankruptcy for High-Income Individuals
Even six-figure earners (doctors, pastors, entrepreneurs) can use bankruptcy to recalibrate and create financial leverage.

53:35 – Abuse of the System
Some people file every 8 years (re-filers), but the majority simply need a fresh start. The process is strictly regulated.

54:44 – Role of Financial Advisors
Shekinah: Advisors should refer clients to bankruptcy attorneys when debt is outpacing their income and credit repair isn’t enough.

1:03:00 – Professionalism ≠ Suit & Tie
Shekinah: Her firm is virtual, her team meets clients in comfortable spaces (coffee shops, online), and prioritizes connection over appearances.

1:10:02 – Credentials
Shekinah:

• BA, Political Science (UC Riverside)
• JD & LL.M. in Corporate/Finance Law (Cooley Law)
• Life Insurance Licensed
• Multiple certifications

1:16:55 – Firm Operations
Upton Law is 100% virtual and Black woman-owned. Bankruptcy filings and consultations happen remotely. Serves clients across states due to federal nature of bankruptcy.

1:20:00 – Fun Story: How Eric Met His Wife
Eric: Shares how he met his wife at the airport in Vegas while picking up Shekinah.

1:23:00 – Final Message
Eric: “If you’re wondering if you should file bankruptcy, call Shekinah.”
Shekinah: UptonLawPLLC.com

1:29:00 – Segment: Characters from Corporate
Anonymous listener: Asked if they were wrong to tell coworkers about their cleaning side hustle.
Eric & Stew: “Nah, you’re not a character—just be cautious.”

1:34:00 – MusicSPOOL Plug
Big Stew: Recaps their music and artist education platform launch. Featured artist of the week: Gino Pacino feat. King Chaz with a gospel-inspired track.

1:40:56 – Episode Wrap-Up
Next episode: “Are You a High Value Man?”