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Subject: Human Relations

C. Thoughtless Extravagance (Civil Code, Art. 25)

You are the legal advisor of a wealthy individual who is facing financial difficulties due to his thoughtless extravagance. He has been recklessly spending his money on luxurious items, extravagant trips, and excessive parties. As a result, he is now on the verge of bankruptcy and is seeking your advice.

Based on Civil Code, Article 25, discuss the legal implications of thoughtless extravagance and the possible remedies available to prevent or mitigate its consequences. Provide clear and concise recommendations to address the client's situation in terms of legal obligations, potential liabilities, and steps to achieve financial stability.

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