Perry Lamb says Past Bankruptcy Prepped Him to Run for Walker County Commissioner

by San Antonio Attorney

Perry Lamb’s life was changed by a mail that threatened him, he said.

After a long time of waiting for payment, a mortgage firm attorney was coming for him.  Other creditors also wanted their money.  Lamb had borrowed more money than he can pay back, he said.

That was in 2009; around one year following the recession started and three years after he bought a land in LaFayette, where he was supposed to build a home.  He took out a construction loan, some lines of credit, and then Lamb was unable to keep up with the payments.

Eventually, his debt reached $230,000.  The mortgage company threatened foreclosure so he filed for bankruptcy.

After seven years, with his Chapter 11 bankruptcy closed, he is running to be a commissioner for Walker County.  According to him, the foreclosure threat was the consequence of his mistakes before.  But he also thinks that experience prepared him to be an official in Walker County that has more than $22 million budget.

He says he knows how to function even without resources.

But one of his opponents believes the bankruptcy makes him unqualified.  Republican candidate Shannon Whitfield emphasized that some of Lamb’s debts were not satisfied when his case closed.

Lamb was not obliged to pay $30,000 he owed to unsecured creditors, based on the bankruptcy filings.

After his bankruptcy in 2009, he only had $1,000 a month to spend.  He attended a Dave Ramsey course, promised to never get a loan again.  Lamb said, he planted his own vegetables, raised rabbits for meat, and chicken for eggs.

He worked as a surgical assistant, and during his free time he accepted plumbing work.  Lamb was paid with wood, which he used for the fireplace.

He said he had to plan his finances carefully because he had nothing.  But he considered it as the best life lesson because he learned to survive with very little money.

Leave a Comment

Previous post:

Next post: