Cebu_4_2
30th April 2012, 06:13 PM
http://www.ocregister.com/articles/suleman-351753-chapter-through.html
Octomom, mom of 14, today files Chapter 7
Court documents say her debt could be as much as $1 million, while she only has $50,000 in assets.
Tweet (http://twitter.com/share)
http://images.onset.freedom.com/ocregister/images/btn_email.gif (?subject=OCREGISTER:%20Octomom%2C%20mom%20of%2014 %2C%20today%20files%20Chapter%207&body=http%3A%2F%2Fwww.ocregister.com%2Farticles%2F suleman-351753-chapter-through.html)
Papa Murphy's Pizza
50% off! $16 toward food and drink at Papa Murphy's! (Arrives as 2 -$8 vouchers)
more from this story
[/URL]
By LOU PONSI and DOUG IRVING / THE ORANGE COUNTY REGISTER
SANTA ANA – Nadya Suleman – known as Octomom – filed bankruptcy papers on Monday here in federal court.
Suleman's debt could be as much as $1 million – 20 times more than her net worth, according to court documents. The mother of 14 has up to $50,000 in assets.
[URL="http://www.ocregister.com/articles/suleman-351753-chapter-through.html?pic=2"]http://images.onset.freedom.com/ocregister/article/m3be9x-b78948432z.120120430155204000gie17dho1.1.jpg (http://www.ocregister.com/articles/suleman-351753-chapter-through.html?pic=2)
Nadya Suleman and some of her 14 children and thier baby sitters pose on the red carpet in front of Millions of Milkshakes in West Hollywood in this 2010 photo.
LOU PONSI, THE ORANGE COUNTY REGISTER
MORE PHOTOS » (http://www.ocregister.com/articles/suleman-351753-chapter-through.html?pic=2)
ADVERTISEMENT
"I have had to make some very difficult decisions this year, and filing Chapter 7 was one of them," Suleman, 36, said through an e-mail sent by her manager, Gina Rodriguez. "But I have to do what is best for my children, and I need a fresh start."
Under a Chapter 7 bankruptcy, a court-appointed trustee will go through and liquidate whatever assets Suleman has that can be used to pay off her creditors. Debtors like Suleman typically receive a discharge from most of their debts in a Chapter 7 bankruptcy case, according to the federal courts website.
The court will go through Suleman's finances – including her debts and her current income – to make sure she is not abusing the protections of a Chapter 7 bankruptcy.
The list of people and organizations to which Suleman owes money include her father, Ed Doud; the city of La Habra's water department, which supplies residents' water; DirecTV; Whittier Christian School; Verizon Wireless; Southern California Edison; a gardener; and the Department of Motor Vehicles.
Suleman owes more than $30,000 to Amer Haddadin, the previous owner of her four-bedroom, three-bathroom home on Madonna Lane.
Through an agreement known as an all-inclusive trust deed, Suleman purchased the home from Haddadin more than three years ago. Suleman, who holds the deed, was responsible for making the monthly payments to Haddadin, who in turn, was to pay the mortgage.
But after Suleman fell 11 months behind on her $3,000 monthly payments, Haddadin also fell behind – prompting foreclosure proceedings.
A foreclosure auction involving the home, which was scheduled for Monday, has been postponed for a week. (http://www.ocregister.com/news/suleman-351667-home-auction.html)
Suleman, in an interview with the Register on April 11, acknowledged collecting $2,000 per month in food stamps. (http://www.ocregister.com/articles/suleman-349100-children-six.html)
She gave birth to eight babies in January 2009 after already having six. All of the children were conceived through fertility treatments.
Contact the writer: Contact the writer: lponsi@ocregister.com or 714-704-3730
Octomom, mom of 14, today files Chapter 7
Court documents say her debt could be as much as $1 million, while she only has $50,000 in assets.
Tweet (http://twitter.com/share)
http://images.onset.freedom.com/ocregister/images/btn_email.gif (?subject=OCREGISTER:%20Octomom%2C%20mom%20of%2014 %2C%20today%20files%20Chapter%207&body=http%3A%2F%2Fwww.ocregister.com%2Farticles%2F suleman-351753-chapter-through.html)
Papa Murphy's Pizza
50% off! $16 toward food and drink at Papa Murphy's! (Arrives as 2 -$8 vouchers)
more from this story
[/URL]
By LOU PONSI and DOUG IRVING / THE ORANGE COUNTY REGISTER
SANTA ANA – Nadya Suleman – known as Octomom – filed bankruptcy papers on Monday here in federal court.
Suleman's debt could be as much as $1 million – 20 times more than her net worth, according to court documents. The mother of 14 has up to $50,000 in assets.
[URL="http://www.ocregister.com/articles/suleman-351753-chapter-through.html?pic=2"]http://images.onset.freedom.com/ocregister/article/m3be9x-b78948432z.120120430155204000gie17dho1.1.jpg (http://www.ocregister.com/articles/suleman-351753-chapter-through.html?pic=2)
Nadya Suleman and some of her 14 children and thier baby sitters pose on the red carpet in front of Millions of Milkshakes in West Hollywood in this 2010 photo.
LOU PONSI, THE ORANGE COUNTY REGISTER
MORE PHOTOS » (http://www.ocregister.com/articles/suleman-351753-chapter-through.html?pic=2)
ADVERTISEMENT
"I have had to make some very difficult decisions this year, and filing Chapter 7 was one of them," Suleman, 36, said through an e-mail sent by her manager, Gina Rodriguez. "But I have to do what is best for my children, and I need a fresh start."
Under a Chapter 7 bankruptcy, a court-appointed trustee will go through and liquidate whatever assets Suleman has that can be used to pay off her creditors. Debtors like Suleman typically receive a discharge from most of their debts in a Chapter 7 bankruptcy case, according to the federal courts website.
The court will go through Suleman's finances – including her debts and her current income – to make sure she is not abusing the protections of a Chapter 7 bankruptcy.
The list of people and organizations to which Suleman owes money include her father, Ed Doud; the city of La Habra's water department, which supplies residents' water; DirecTV; Whittier Christian School; Verizon Wireless; Southern California Edison; a gardener; and the Department of Motor Vehicles.
Suleman owes more than $30,000 to Amer Haddadin, the previous owner of her four-bedroom, three-bathroom home on Madonna Lane.
Through an agreement known as an all-inclusive trust deed, Suleman purchased the home from Haddadin more than three years ago. Suleman, who holds the deed, was responsible for making the monthly payments to Haddadin, who in turn, was to pay the mortgage.
But after Suleman fell 11 months behind on her $3,000 monthly payments, Haddadin also fell behind – prompting foreclosure proceedings.
A foreclosure auction involving the home, which was scheduled for Monday, has been postponed for a week. (http://www.ocregister.com/news/suleman-351667-home-auction.html)
Suleman, in an interview with the Register on April 11, acknowledged collecting $2,000 per month in food stamps. (http://www.ocregister.com/articles/suleman-349100-children-six.html)
She gave birth to eight babies in January 2009 after already having six. All of the children were conceived through fertility treatments.
Contact the writer: Contact the writer: lponsi@ocregister.com or 714-704-3730