Nadya Suleman, known by many as the “Octomom," filed for Chapter 7 bankruptcy in California on Monday. She admitted that she has accumulated over $1 million in debt, owing money to the city’s water department, Sylvan Learning Center, Whittier Christian School, and her father. A court-appointed trustee will liquidate her assets, estimated at $50,000, before she is discharged from the remainder of her debt. At the time of her filing, Suleman owed 20 times more than her total net worth.
Suleman is also behind by more than $30,000 in rent payments for a four-bedroom house in La Habra. The homeowner, Amer Haddadin has suffered significant damage to his own credit as he has allowed the home to reach foreclosure proceedings. The foreclosure auction on the house is currently postponed.
Before reaching notoriety for the birth of her octuplets in January 2009, Suleman was living with her mother and six children in a three-bedroom house in Whittier, California. That house went into foreclosure proceedings right around the time the octuplets were born. The Suleman octuplets are the longest living set in the world.
As an unemployed and single mother, Suleman has long relied on the aid of Social Security disability payments and food stamps to support herself and her children. Though she has been able to somewhat capitalize on the fame that came with her 8-child birth, earning $5,000 for promoting neutering and spaying for an animal rights group, participating in paid celebrity boxing matches, and agreeing to paid interviews, Suleman has failed to find a consistent method of making ends meet. She declined an offer of $1 million to appear in pornography.
Do you have more debt that your total net worth? If so, Chapter 7 bankruptcy can be a very viable option for you. Bankruptcy can help individuals who are struggling with their finances, especially those who think they may never have the means to pay off the amount that they currently owe.
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